Anthropic's third-quarter revenue is said to hit $16.8 billion ahead of IPO

Key points

• Anthropic told investors its third-quarter revenue reached $16.8 billion as it prepares for a reported November IPO.
• Revenue climbed from $11.6 billion in the second quarter and $4.7 billion in the first quarter.
• The company said it was profitable on an adjusted basis and cash-flow positive in the third quarter.

Anthropic has told investors that its third-quarter revenue reached $16.8 billion, according to people familiar with the matter. The Claude maker is preparing for a highly anticipated initial public offering reportedly slated for November.

The company disclosed the figure at a meeting with potential investors, including institutional investors, CNBC reported. Anthropic had previously planned to share its third-quarter financial results for the first time at that meeting.

Revenue growth across quarters

Revenue rose from $11.6 billion in the second quarter and $4.7 billion in the first quarter, the people said. Anthropic also told investors it was profitable on an adjusted basis in the third quarter.

The company said it was cash-flow positive, generating $1.70 in revenue for every dollar spent on computing power during the quarter, according to the Financial Times. Investors expect Anthropic to reach $110 billion in annualized revenue by year-end, according to The Wall Street Journal.