Ahead of IPO, Anthropic reveals its revenue grew 45% sequentially to $16.8B in Q3
SiliconANGLE Mike Wheatley ● Covered by 2 sources
Anthropic says Q3 revenue hit $16.8B and turned profitable on an adjusted basis. That’s fueling IPO buzz — and making AI stocks twitch again.
Based on reporting by SiliconANGLE, Mike Wheatley — read the original for the full story.
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Anthropic PBC told investors it pulled in $16.8 billion in third-quarter revenue, according to a Financial Times report, and said it was profitable on an adjusted basis for the first time. The disclosure came in a private meeting tied to the company’s long-running push toward an initial public offering. Anthropic is widely expected to go public in November, with a target valuation as high as $2 trillion.
That number matters because people keep using Anthropic as a stand-in for the wider AI boom. Its results are being watched like a weather vane for tech stocks, and lately that vane has been spinning hard. Just last week, the Financial Times had to correct earlier OpenAI revenue estimates downward, and the market didn’t shrug. The Nasdaq fell 1.25%, and names like Oracle, CoreWeave, Intel and Nvidia moved lower too.
There’s still a lot the latest Anthropic figure doesn’t explain. The Financial Times source didn’t say whether the $16.8 billion was gross revenue or net revenue, and it wasn’t clear how the company defines profitability. That leaves investors with the headline they want and not much of the plumbing they need. For a private company, that’s legal. For anyone trying to price an IPO, it’s maddening.
The growth itself is still striking. Earlier Wall Street Journal reporting put Anthropic’s first-quarter revenue at $4.8 billion, before later reports said it had climbed to $11.6 billion in the second quarter. If those numbers hold, the third quarter was up about 45% sequentially. Anthropic has also been helped by strong enterprise demand for Claude Code, and it has been shipping a torrent of frontier models while OpenAI’s market lead has faded.
All of this sits on top of an expensive, nervous industry. Anthropic closed a $65 billion funding round in May, which lifted its valuation to $965 billion, and the whole sector still burns cash to pay for computing chips. Safety worries are rising too, and the latest revenue pop doesn’t make them vanish. It just gives everyone more reason to keep pretending the tab is someone else’s problem.
My take — AI-written commentary, not fact-checked reporting
This is exactly how AI gets priced now: by rumor, private briefings, and a lot of faith that the bill won’t arrive too soon. Anthropic looks like the new favorite, which is usually when the market gets a little too comfortable. The real tell isn’t the revenue headline; it’s how little anyone seems to need before calling that sustainable.
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