Anthropic tells investors third-quarter revenue hit $16.8 billion

Anthropic told prospective investors on Wednesday, October 14, 2026, that third-quarter revenue reached $16.8 billion, Reuters and Bloomberg reported.

The figure came from a private meeting in San Francisco, not from a published earnings release. Bloomberg reported the $16.8 billion total from a presentation that day at Anthropic's headquarters, citing people familiar with the matter. The 45% gain from the prior quarter comes from one investor who attended, Reuters reported.

Anthropic also told the room the quarter was profitable on an adjusted basis. Neither Reuters nor Bloomberg gave a dollar figure for that profit.

A confidential prospectus Reuters reported on September 28, 2026, put 2025 revenue at nearly $4.6 billion. The latest quarter is already more than three times that full year.

The same filing showed an operating loss of more than $8 billion for 2025 after an accounting charge is set aside. The charge reflects a rise in the estimated value of financing that could turn into shares, and it is booked as a loss even though it is not cash spent running the business.

The adjusted profit is a different reported figure from that 2025 operating loss. Neither Reuters nor Bloomberg said what the adjustment leaves out.

In the same prospectus, Anthropic said it expects to spend at least $518 billion over a decade on infrastructure, Reuters reported on September 29, 2026. About 80% of that sum is covered by contracts that either cannot be canceled or have to be paid whether the capacity is used. Within that total, Anthropic set minimum spending of $111.1 billion with Alphabet's Google, $110 billion with Amazon and $31.4 billion with Microsoft, each payable whether that capacity is used.

Two customers, whom the prospectus did not name, accounted for nearly a quarter of 2025 revenue, Reuters reported. Anthropic warned that many of its largest clients were not on long-term contracts and could cut or stop spending.

Separately, 47% of that year's sales were billed through Amazon's and Google's clouds, Reuters reported from the prospectus. Google and Amazon are also investors in Anthropic and competitors in artificial intelligence, Reuters reported.

Reuters said Anthropic is aiming for a listing valuation of more than $2 trillion, more than double the $965 billion valuation in its May funding round.

Reuters said the debut is likely to wait until after the November midterm elections in the United States.