Anthropic told prospective investors on Wednesday that its third-quarter revenue surged roughly 45% from the prior quarter to $16.8 billion, as the Claude maker pushes ahead with what may become the largest initial public offering in history, two people with knowledge of the presentation said.
In a meeting at its San Francisco headquarters, executives painted a picture of explosive growth: revenue rose from $11.6 billion in the second quarter and $4.7 billion in the first. The company also said it was profitable on an adjusted basis in Q3 — not a bottom-line number — and reported an adjusted gross margin of 85 percent.
The numbers come as Anthropic works to assuage investor concerns about the enormous costs of developing frontier AI systems. Last year, the company's revenue grew twelvefold to nearly $4.6 billion, even as it lost more than $8 billion on an operating basis, largely due to writedowns tied to previous fundraising rounds.
Analysts who met with company executives earlier this week estimate Anthropic's annual revenue run rate could reach $110 billion by year's end, underscoring just how steep the AI boom's growth curve has become.