Anthropic Reports $17 Billion in Third-Quarter Revenue Ahead of IPO

Anthropic reported $17 billion in third-quarter revenue in an amended SEC filing on Monday, up 1,127 percent from the same period in 2025 and up 47 percent from $11.6 billion in the second quarter. Revenue for the first nine months reached $33.24 billion.

The filing also showed the costs of the AI race: a $23.29 billion net loss for the third quarter and $895.4 billion in purchase commitments and lease agreements, largely for the computing capacity needed to train and run its models.

Reports cited in coverage put the discussed IPO valuation at $1.5 trillion to $1.6 trillion, down from about $2 trillion, as institutional buyers cite a broader tech sell-off and doubts about AI returns. The filing is part of Anthropic's path toward a public listing.

Anthropic also warned in the filing that AI may soon speed up the development of newer AI models faster than researchers can evaluate them. In an updated regulatory filing reported by TechCrunch, the Claude maker said it may soon reach its internal threshold for dramatically accelerated AI-assisted research.

The warning adds to a debate running through the industry about how fast AI capabilities are advancing relative to safety testing. Anthropic acknowledged that AI-assisted development could accelerate faster than its ability to evaluate the models' capabilities and potential risks.