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Anthropic told prospective investors on Wednesday that third-quarter revenue reached USD 16.8 billion, marking a 45% increase from the previous quarter. The San Francisco-based AI company shared the figures during a private investor meeting ahead of its anticipated public listing. Executives highlighted rapid growth and adjusted profitability as Anthropic seeks to reassure investors about rising artificial intelligence development costs.
Revenue climbed from USD 11.6 billion in the second quarter and USD 4.7 billion in the first quarter, according to attendees. CEO Dario Amodei and CFO Krishna Rao discussed the company’s business outlook and its use of AI for internal operations. The meeting also highlighted custom chip design, while attendees received hats bearing the word 'thinking.'
Anthropic is positioning its revenue growth as evidence that demand for advanced AI can support its costly expansion. Analysts who recently met executives estimate the company could reach a USD 110 billion annual revenue run rate by year-end. However, that figure represents an estimate rather than confirmed full-year revenue.
The company also faces scrutiny over infrastructure commitments and the cost of developing increasingly powerful models. Anthropic has committed at least USD 518 billion over a decade to cloud services, computing and related infrastructure. Last year, revenue rose nearly twelvefold to about USD 4.6 billion, while operating losses exceeded USD 8 billion.
Amodei reiterated Anthropic’s focus on AI safety during Wednesday’s meeting, but reportedly avoided discussing human extinction. The approach contrasts with the company’s recent IPO prospectus, which warned that advanced AI could pose ‘catastrophic or existential risks to humanity.'
Anthropic has built its reputation partly around responsible AI development while competing with OpenAI and other leading model developers. Its Claude models have helped expand its commercial presence, supported by partnerships with Google and Amazon.
The company is targeting a valuation above USD 2 trillion, although the listing timeline remains uncertain. Reuters has reported that Anthropic’s IPO could take place after the November US midterm elections. The investor meeting suggests the company wants markets to focus on revenue growth, profitability and commercial demand.
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