Anthropic Revenue Nears $17 Billion as Spending Commitments Reach $895.4 Billion
Key Facts
Anthropic's revenue in the third quarter of 2026 approached $17 billion, up 45% from the previous quarter, according to a Reuters report carried by Investing.com on November 2. In a separate report, Axios said the company recorded revenue of $33.2 billion in the first nine months of the year, compared with $2.5 billion in the same period of 2025. The figures reflect accelerating growth ahead of an expected public listing. At the same time, Anthropic disclosed total spending commitments of about $895.4 billion under purchase and lease agreements. Axios said most of these commitments are related to computing and infrastructure.
The scale of the commitments puts the cost of securing computing capacity and infrastructure at the center of the growth picture. The company described these commitments as total amounts under purchase and lease agreements, most of them related to computing and infrastructure, according to Axios. This comes as revenue expanded rapidly during the year, with revenue in the first nine months rising to $33.2 billion from $2.5 billion a year earlier. This means commercial expansion is proceeding alongside long-term commitments to provide the capacity needed to run services. Available information did not detail when the full $895.4 billion in commitments would come due.
Anthropic told investors it achieved adjusted profitability in the third quarter for the second consecutive quarter, according to the Financial Times as reported by Investing.com. It also said it recorded positive cash flow during the same quarter. The company said it generated $1.70 in revenue for every dollar it spent on computing capacity. These indicators present a different picture from the net loss reported in the first-half filing, since the adjusted profitability reported for the third quarter should not be conflated with net results for the accounting period. Computing-spending efficiency is particularly important given the large infrastructure-related commitments.
Anthropic said in its filing with the U.S. Securities and Exchange Commission that first-half 2026 revenue was $16.3 billion, up 1,300% year over year. Net loss for the period was $80.7 billion, including $72.4 billion resulting from changes in the fair value of certain financing instruments, including convertible notes, derivative liabilities and simple agreements for future equity. By contrast, operating loss narrowed to $693 million in the first half of 2026 from $2.1 billion in the corresponding period of 2025. These figures distinguish the impact of financing valuations on net loss from operating performance. The company said it does not expect revenue to continue growing at similar rates, noting that recent growth may reflect early market adoption and initial customer expansion.
The company is preparing to move from private financing to public markets after filing a registration statement for an offering with the U.S. Securities and Exchange Commission, the Associated Press reported. The filing paves the way for an expected offering in the following month, according to the agency. Anthropic said it intends to list its shares on the Nasdaq Global Select Market under the symbol ANT. The company's filing says Class N shares carry no voting rights but convert into Class A shares when transferred to an unaffiliated third party. The anticipated offering will present investors with a combined picture of the company's revenue growth, adjusted profitability and infrastructure commitments.