❯ Anthropic’s Q3 revenue rises about 45% to $16.8 billion, with an adjusted profit ahead of its IPO

$5.3 billion more in one quarterAccording to the Financial Times, Anthropic told investors on October 14 that third-quarter revenue reached $16.8 billion, up from $11.5 billion in the second quarter, and that it was profitable on an adjusted basis. The Wall Street Journal, citing people familiar with the matter, put the quarter-on-quarter growth at about 45%. The figures came from an investor meeting; the company has not published audited quarterly results.

From $4.6 billion a year to $16.8 billion a quarterAnthropic builds the Claude family of large language models and sells subscriptions and API access to consumers and businesses. According to Political.org, the company’s revenue was nearly $4.6 billion for all of 2025 and $4.7 billion in the first quarter of this year, bringing the first nine months to roughly $33 billion. An adjusted profit excludes items the company chooses to leave out, and is not the same as profit under standard accounting rules.

An equally large billThe disclosure comes as Anthropic prepares to go public. Yahoo Finance reports that it confidentially filed with the SEC on June 1, and its public prospectus has yet to appear. Political.org adds that the company has committed at least $518 billion over a decade to cloud services, computing and infrastructure. What prospective investors need to judge is whether revenue growth can keep outpacing those long-term commitments.

▮ SIGNALRevenue scale is no longer the open question for model companies; valuation now hinges on whether revenue grows fast enough to outrun the compute bills already signed.