Anthropic Reports $16.8 Billion Revenue for Third Quarter

AI firm Anthropic is expected to report third-quarter revenue of $16.8 billion, according to sources familiar with the matter. This represents a significant increase from the approximately $11.6 billion in revenue recorded during the second quarter.

The reported revenue figures come as Anthropic is reportedly preparing for a potential initial public offering (IPO), rumored to be scheduled for November. The company's first-quarter revenue stood at $4.7 billion.

In addition to its revenue growth, Anthropic has informed investors that it achieved profitability on an adjusted basis in the third quarter. The company is also cash-flow positive, generating $1.70 for every dollar spent on computing power, as reported by the Financial Times.

Investors anticipate Anthropic could reach $110 billion in annualized revenue by the end of the year, according to The Wall Street Journal. The company had previously indicated plans to disclose its third-quarter financials for the first time at a meeting with prospective investors.