Anthropic Q3 revenue hits $16.8 billion but growth slows; IPO valuation ahead of November launch may be revised downward.

At a meeting with potential investors, Anthropic announced Q3 revenue of $16.8 billion, representing a year-over-year increase of approximately 45%, though this is notably lower than the over 140% growth seen in Q2. According to The Information and Financial Times, the company achieved an adjusted operating profit margin of 11% for the year with positive cash flow, generating $1.70 in revenue for every $1 spent on compute. Some investors expressed disappointment with the revenue figures, expecting the IPO valuation to be revised downward to below $1.5 trillion, lower than the previously discussed $2 trillion.