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Anthropic Reports Q3 Revenue of $16.8B Ahead of IPO

Anthropic told investors its quarterly revenue rose to about $16.8bn in Q3, up from $11.5bn in Q2 and roughly $4.8bn in Q1, according to an FT report cited by Simon Willison. The company also disclosed that adjusted operating margins excluding stock-based compensation were 11%, and that it earned $1.70 for every $1 spent on computing power. Anthropic said it materially reduced "distillation" usage by rival labs in Q3, a practice that had accounted for 5% to 7% of revenue.

Simon Willison4d agoScore 75
AnthropicAI industry financialsmodel distillation
Industry

Anthropic's Q3 revenue reaches $16.8B as growth slows ahead of planned November IPO

Anthropic reported $16.8 billion in third-quarter revenue, a 45 percent gain that falls well short of the 140 percent growth seen in Q2. With a planned November IPO approaching, some investors reportedly expect the company's valuation to drop below $1.5 trillion. Slowing growth and a tough market are tempering expectations for what the article calls the AI boom's biggest Wall Street test yet.

The Decoder4d agoScore 71
AnthropicAI industry fundingIPO
Industry

Cerebras Systems Targets $40 Billion Valuation in Upsized $4 Billion IPO

SUNNYVALE, Calif.&nbsp;– Cerebras Systems Inc., a prominent AI chipmaker and data center operator based in Sunnyvale, California, is seeking to raise up to&nbsp;$4 billion&nbsp;in an upcoming Initial Public Offering (IPO). This aggressive fundraising<!--autointro-->

AITopic existing contentMay 2, 2026Score 70
Cerebras SystemsIPOAI chipmaker