Artificial intelligence company Anthropic's revenue surged 45% to $16.8 billion in the third quarter of 2026 from the previous quarter, while the company also reported an adjusted profit, reports Reuters.
The figures were shared with prospective investors at a meeting held at Anthropic's San Francisco headquarters on Wednesday ahead of its anticipated initial public offering (IPO).The revenue rose from $11.6 billion in the second quarter and $4.7 billion in the first quarter, people who attended the investor meeting said, as per the report.
The company is targeting a valuation of more than $2 trillion for its anticipated IPO, according to the report. Its public-market debut is expected to precede that of rival OpenAI, although the listing could take place after the November US midterm elections.
Anthropic is seeking to convince investors that its rapid revenue growth can eventually outweigh the substantial costs of developing and operating increasingly powerful AI systems.
According to estimates from analysts who met company executives earlier this week, Anthropic's annual revenue run rate could reach $110 billion by the end of 2026.
The financial performance comes as AI companies face greater scrutiny over spending on chips, data centres and computing infrastructure. Anthropic has committed at least $518 billion over a decade towards cloud services, computing and infrastructure.
Last year, the company's revenue increased twelvefold to nearly $4.6 billion, even as it recorded an operating loss of more than $8 billion, excluding writedowns of liabilities largely linked to previous fundraising.
At Wednesday's meeting, Amodei reiterated the company's focus on AI safety but did not discuss threats of human extinction, one attendee told Reuters. This contrasted with the company's prospectus, which warned that advanced AI could pose “catastrophic or existential risks to humanity."
Anthropic, founded by former OpenAI executives, develops the Claude family of AI models and has expanded with support from Alphabet's Google and Amazon, which are investors, computing providers, and distribution partners, as well as competitors in the AI market. - ANI
