Anthropic Q3 revenue climbs to $16.8 billion: Report

Anthropic's (ANTH.PVT) Q3 revenue climbed to $16.8 billion, up from $11.5 billion in the second quarter.

The AI startup revealed the news to investors during a closed meeting, noting that it is also profitable on an adjusted basis, according to The Financial Times .

The news comes as Wall Street awaits Anthropic's public S-1 filing. The company p rivately filed the paperwork with the Securities and Exchange Commission on June 1.

Anthropic is projected to kick off its highly anticipated initial public offering (IPO) sometime this fall, aiming for a record $2 trillion valuation.

The latest revenue numbers come after the Financial Tim es reported that investors revised their estimates for Anthropic rival OpenAI's annualized revenue downward from $70 billion to $50 billion .

Investors, the report says, initially miscalculated OpenAI's numbers while attempting to match them to Anthropic's revenue run rate, resulting in a massive $20 billion swing.

While Anthropic is ramping up for its IPO, OpenAI is holding off on its until early 2027. According to Bloomberg , the company is instead looking to raise $30 billion at a $1.4 trillion valuation.

The two AI companies, as well as Meta ( META ) and Google ( GOOG ), have faced mounting pressure in recent months after reporting that their respective AI models broke free of containment and hacked into third-party websites and networks.

That's led to increased calls for regulations around AI models and their use. But President Trump has pushed back, opting for self-regulation among the companies.

Earlier this month, Trump convened a meeting of leading AI executives, including Amodei, at which they signed what Trump called a "morally binding" agreement to have independent auditors review their models for suspicious behavior.

Anthropic and OpenAI are also contending with a growing pricing war among AI model makers. With "tokenmaxxing" in the rearview, AI customers are looking for ways to save on AI expenses, whether that's through open-weight models from China or less expensive closed models from leading US labs.

Last week, Anthropic debuted its Claude Haiku 5.5 , saying it costs an average of 75% less than Haiku 4.5. Customers pay $0.10 per million input tokens and $0.50 per output token. That's in line with rival OpenAI's ( OPAI.PVT ) smallest model, GPT-6 Luna.

Tokens are a measure of AI usage and represent portions of or entire words users type into prompt boxes and the responses the AI spits back out.

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Email Daniel Howley at dhowley@yahoofinance.com. Follow him on X at @DanielHowley .