What investors were told
Anthropic, the developer of the Claude AI models, held presentations for prospective investors at its San Francisco headquarters on Wednesday, October 14, ahead of a planned . Reuters reported, citing a person who attended, that the company said third-quarter revenue was $16.8 billion, up from $11.6 billion in the second quarter [1]. Bloomberg and the Financial Times reported the same $16.8 billion figure, a rise of about 45% [2][3].
According to the reports, Anthropic told investors it was profitable on an adjusted basis for a second straight quarter and was generating positive cash flow. It also said it earned about $1.70 of revenue for every $1 spent on computing power [3]. Adjusted profit is a company-defined measure and is not the same as profit under standard accounting rules [3].
The planned listing
Bloomberg reported that Anthropic could begin marketing its shares to investors as soon as the week of November 9 [2]. Reuters' source said the company discussed a valuation target above $2 trillion; that figure was not confirmed by the other reports [1]. The timing and terms of any offering depend on the company's plans and market conditions.
What is not known
None of the figures has been published by Anthropic or audited, and the company did not comment on the reports. The numbers would normally appear in a registration statement filed with the Securities and Exchange Commission before shares are sold, which would show results under standard accounting and the definitions behind the adjusted measures.
What remains uncertain
All figures come from news reports of a closed investor presentation, based on unnamed attendees or people familiar with the event; they are unaudited and company-defined. The valuation target was reported only by Reuters. Anthropic has not commented.
Sources
- Reuters · Anthropic's Q3 revenue surges 45% to nearly $17 billion (October 14, 2026) ↗Source
- Quartz · Anthropic told investors Q3 revenue reached $16.8 billion ahead of IPO, citing Bloomberg (October 15, 2026) ↗Source
- Yahoo Finance · Anthropic reports 45% revenue growth to $16.8 billion in Q3, citing the Financial Times (October 15, 2026) ↗Source