Some prospective investors in Anthropic’s planned IPO are discussing a valuation of about $1.2 trillion to $1.3 trillion, according to a November 6 Bloomberg report carried by Investing.com. Investors had previously relayed a $1.4 trillion to $1.5 trillion range to bankers. The discussions were continuing, with no final decision.
Anthropic’s third-quarter revenue reached $16.96 billion, up 47% from the preceding quarter, compared with 144% growth in the second quarter, Reuters reported from its November 2 filing. The company posted a $567 million operating loss after a $974 million operating profit in the second quarter.
Anthropic sells Claude models and applications to companies and individual users. Claude Code helps developers write and test software; other customers embed its models in their own applications. Usage charges generated 79% of revenue in the first nine months of 2026, with subscriptions supplying the rest, according to the filing.
The November 2 filing also disclosed approximately $895.4 billion in purchase and lease commitments, almost all for computing and infrastructure, including about $69.8 billion due in the 12 months after September 30. Reuters reported the filing’s warning that some infrastructure providers depend on outside financing, creating a risk of delays, higher prices or lost capacity.
Reuters reported on November 5 that potential investors were questioning whether Anthropic could begin its roadshow during the week of November 9, with pricing initially expected the following week. Investors were awaiting October revenue information; the November 2 filing left its October 31 revenue run rate blank.