The AI company reported a $23 billion quarterly net loss as it prepares for a public offering that could raise up to $100 billion.
Anthropic reported $17 billion in third quarter revenue on Monday, up more than twelve-fold from a year earlier, as the artificial intelligence company prepares for a public offering expected later this month.
The company posted a $23 billion net loss during the quarter, according to updated financial disclosures released a week after its initial IPO filing.
Revenue increased 47% from the previous quarter, slowing from the 144% growth recorded between the first and second quarters. Anthropic had previously shared some of the figures during a private investor presentation at its San Francisco headquarters last month.
For the first nine months of 2026, Anthropic generated $33 billion in revenue and reported a $104 billion net loss.
The loss included a one time $94 billion accounting charge related to convertible notes, a form of debt that can later convert into equity. Excluding certain expenses, the company’s operating loss for the period was $693 million.
Anthropic targets $2 trillion valuation amid rising AI infrastructure costs
Anthropic’s upcoming IPO could value the company at $2 trillion and raise as much as $100 billion, potentially making it the largest public offering in history.
However, the company has warned that even a record capital raise may not be sufficient to fund its growing infrastructure requirements.
The offering comes as technology companies increase spending on data centers and computing infrastructure to support AI development, with several turning to debt markets to finance expansion.
Anthropic’s listing would follow SpaceX’s June IPO, which briefly made Elon Musk the world’s first trillionaire.
OpenAI is also preparing for a potential public offering next year, with the ChatGPT developer reportedly targeting a valuation exceeding $1 trillion.
