Anthropic reported a sharp increase in quarterly revenue and adjusted profitability as the artificial intelligence company prepares for a potential stock market debut targeting a valuation above $2 trillion.
Anthropic’s third-quarter revenue climbed to $16.8 billion, up from $11.6 billion in the second quarter and $4.7 billion in the first quarter, according to people who attended an investor meeting on Wednesday. The figures highlight the rapid commercial growth of its Claude AI models and related services.
During the meeting in San Francisco, Chief Executive Dario Amodei and Chief Financial Officer Krishna Rao outlined the company’s financial performance and business strategy. Attendees said executives reported that Anthropic was profitable on an adjusted basis in the third quarter, offering prospective investors a more positive picture of its financial trajectory.
However, the company faces significant costs as it expands its AI capabilities. Anthropic has committed at least $518 billion over a decade to cloud services, computing and infrastructure, underscoring the scale of investment required to develop and operate increasingly powerful AI systems.
The company also reiterated its focus on AI safety, although Amodei reportedly avoided discussing human extinction risks during the meeting. Anthropic has previously warned that advanced AI could pose catastrophic or existential threats to humanity, while research by the company has identified potentially concerning behaviours by AI agents in testing environments.
Founded by former OpenAI executives, Anthropic has become a major competitor in the generative AI industry, supported by investments and computing partnerships with Google and Amazon. Its anticipated IPO could test investor confidence in AI companies seeking to balance rapid revenue growth with the substantial costs of developing advanced technology. The company is targeting a valuation exceeding $2 trillion, although the timing and final terms of any listing remain uncertain.
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