IT之家 · IT业界 · 10/15/2026, 07:10:11
Anthropic Reports $16.8B Q3 Revenue and Adjusted Profitability Ahead of Potential Pre-Thanksgiving IPO
Anthropic reported $16.8 billion in Q3 revenue with adjusted profitability and an 85% gross margin, planning to launch its IPO roadshow as early as November. Despite competition from OpenAI and Meta and heightened scrutiny on AI safety, investors estimate its valuation between $1.8 trillion and $2 trillion.
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Sources familiar with the matter revealed that Anthropic, the developer of Claude, held a roadshow at its San Francisco headquarters on Wednesday, informing investors that the company achieved adjusted profitability during the quarter.
According to the sources, as of the third quarter, Anthropic had generated positive free cash flow, with an adjusted gross margin of 85% and an adjusted operating margin exceeding 11%.
Anthropic plans to officially launch its Initial Public Offering (IPO) roadshow as early as the week of November 9, aiming to list before Thanksgiving and complete the public offering within the year.
The sources noted that discussions are ongoing, and the timeline remains subject to change.
While Anthropic has maintained strong momentum throughout much of this year, it now faces renewed competitive pressure from rivals like OpenAI, with both companies vying for higher valuations in a closely contested race. Following several major hacking incidents caused by malicious agents, both firms are under increasingly strict public scrutiny regarding AI safety, raising concerns about potential impacts on Anthropic’s IPO.
Meta recently launched an AI model, claiming significant breakthroughs compared to its predecessors, adding another competitor for investors to watch. Meta stated that Muse Wonder matches the capabilities of OpenAI’s ChatGPT and Anthropic’s Claude in coding and handling financial or legal queries.
Investor feedback on Anthropic’s latest operational data will be critical to the listing process. Some investors indicated prior to Wednesday’s meeting that the company’s reasonable valuation range is approximately 2 trillion (equivalent to roughly RMB 12.07 trillion to 13.41 trillion at current exchange rates). Bloomberg reported that Anthropic aims for an IPO size equal to or larger than SpaceX’s initial public offering.
In August, Bloomberg reported that Anthropic incurred a net loss of nearly 8.3 billion (approximately RMB 55.652 billion). Documents reviewed by Bloomberg showed that the company’s total revenue for 2025 was approximately 386 million (about RMB 2.588 billion) the prior year, but operating losses expanded to over $8 billion (approximately RMB 53.64 billion).
Anthropic’s commitment to proceeding with the IPO contrasts with recent delays and shelving of new listings in global markets. Data center operator AirTrunk postponed the Singapore IPO of its real estate investment trust to next year; just days before this news, Australian data center firm Firmus saw its listing plan fail.