Anthropic Logs Second Consecutive Quarter of Adjusted Operating Profit Ahead of Potential $2 Trillion Nasdaq IPO

Anthropic, the developer of Claude, has told some shareholders that adjusted operating profit is expected to remain positive for a second consecutive quarter in the third quarter of 2026, according to people familiar with the matter as reported by the Financial Times on Sept. 13. The company has selected Nasdaq as its listing venue, with an IPO valuation that could reach $2 trillion or more.

Anthropic posted second-quarter 2026 revenue of $11.5 billion, up 14-fold year over year. Annualized revenue reached $65 billion as of the end of July, up from $9 billion at the end of 2025. Gross margin was above 80% before revenue sharing with distribution partners such as Amazon and before model training costs. Investors expect annualized revenue to reach $120 billion by the end of 2026 and approach nearly three times that figure by the end of 2027.

The company, founded five years ago, is currently valued at about $965 billion. Its IPO schedule remains flexible: Anthropic had originally expected to make its prospectus public during the week starting Sept. 7, but has instead chosen to share documents with a small group of investors first.

Ahead of the IPO, CEO Dario Amodei has publicly called on the AI industry to slow the pace of capability advancement, a position echoed by OpenAI CEO Sam Altman and Elon Musk. Altman also confirmed that OpenAI will remain private this year, saying a 2026 listing would be unwise.