Anthropic generated nearly $17bn in revenue in the third quarter, around 12 times more than in the same period last year, according to an amended IPO prospectus filed with the SEC on Monday. Bloomberg reported the figures.
The updated filing adds the latest quarterly results to the prospectus the AI company published last week. We have previously reported that Anthropic told investors its revenue had reached $16.8bn in the quarter .
The new document makes that figure official, and the revenue for the first nine months of 2026 totalled $33.2bn, while the company reported a net loss of $104bn over the same period.
The filing also reveals the scale of Anthropic’s future spending commitments, as the company has committed $895.4bn to purchases, almost all related to computing power and infrastructure.
Around $448bn is due by the end of 2030, including roughly $70bn over the next 12 months, according to Bloomberg.
Anthropic recorded a net loss of $23.3bn in the third quarter, compared with $12.1bn a year earlier. However, much of that figure comes from an accounting charge rather than money leaving the business.
The expense is tied to convertible notes, most of which are held by Amazon. Anthropic revalues the notes every quarter, meaning their value rises as the company’s valuation increases.
That change is recorded as a loss on its accounts. The notes will convert into shares when Anthropic goes public, largely removing this accounting effect.
Its underlying operations tell a different story. Operating expenses of around $17.5bn came close to matching quarterly revenue, leaving an operating loss of approximately $567m, according to reports on the filing.
Anthropic had recorded an operating profit of about $974m in the second quarter, while its operations generated $3.9bn in cash during the first half of the year.
The company behind the Claude models plans to list on the Nasdaq under the ticker ANT before the end of November.
Investors have discussed a valuation of between $1.4tn and $1.5tn, Bloomberg reported. The offering could rank among the largest IPOs on record .
But the nearly $900bn in purchase commitments also puts the company’s growth into perspective. Anthropic is locking itself into years of spending on the computing infrastructure needed to train and run its models.
Those commitments amount to almost 13 times its annualised revenue, raising questions about how quickly its income can catch up with the cost of expansion.
Anthropic filed confidentially for an IPO in June. Its rival OpenAI has also submitted a confidential filing, although it is reportedly targeting a public listing in 2027.
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