Anthropic has added its third-quarter figures to its IPO paperwork, filing an amended S-1 on 2 November, a week after the first public version left them out. Revenue for the three months to 30 September was about $17 billion, close to the $16.8 billion the company gave investors at a private briefing on 14 October.
“currently costs significantly more”
Anthropic's amended S-1 filing, on compute bought under short-term commitments (as quoted by Fortune), in the filing, as quoted by Fortune · fortune.com ↗
Growth slowed while costs jumped. Quarter-on-quarter growth was about 47%, against about 144% the quarter before, and operating expenses rose to $17.5 billion from $10.6 billion. That turned a $974 million operating profit in Q2 into a $567 million loss, though SiliconANGLE gives the loss as $536 million.
Anthropic graphic used by SiliconANGLE for its report on the revised filing
Image: SiliconANGLE
Anthropic puts the blame on compute bought on short-term commitments, which costs far more than capacity booked well ahead. SiliconANGLE reports a $5 billion hit from hardware bought at a premium; a $2 billion non-cash charge for an employee donation-matching programme added to it. Price cuts tied to new model versions and contract discounts took about $600 million off growth. Net loss was $23.3 billion, mostly an accounting charge from convertible notes.
About Anthropic
Anthropic has raised money in steps that grew fast. In September 2025 it raised $13 billion in a Series F at a $183 billion post-money valuation. On 12 February 2026 it announced a $30 billion Series G that took the valuation to $380 billion. In May 2026 it announced a $65 billion raise from investors including Altimeter, Dragoneer and Sequoia that valued it at $965 billion.
On 1 June 2026 it announced that it had confidentially submitted a draft S-1 registration statement to the SEC for its IPO.
2021
Founded
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Commitments are vast: $895.4 billion in infrastructure, nearly a third of it leases with Google and Broadcom, and purchase commitments of about $314 billion, with Amazon, Oracle and SpaceX each over $100 billion. Anthropic plans its own data centres to replace short-term capacity. It has not said how much it will raise; Reuters reports a target valuation of $1.5 trillion to $2 trillion, with a listing expected in November.
Picture Hurriyet Daily News ran with its October report on Anthropic's investor briefing
Image: Hurriyet Daily News
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