Anthropic reports $17 billion in Q3 revenue, purchase commitments of $895.4 billion in revised S-1

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Anthropic reported updated financials as part of an amended Form S-1 filing with the Securities and Exchange Commission on Monday, giving investors a more comprehensive look into the state of its business. 

The artificial intelligence company said it generated $33.24 billion in revenue for the nine months ended Sept. 30, up roughly 1,200% from the same period last year. It reported a $104 billion net loss during the period, though most of that was due to the change in fair value of convertible notes and derivative liabilities. Anthropic lost $25.1 billion over the same stretch in 2025.

Anthropic unveiled its highly anticipated prospectus last week, bringing the company one step closer to a potentially historic IPO. The initial filing only included the company's financials through the first half of the year.

During its third quarter, Anthropic generated roughly $17 billion in revenue. The company reported a net loss of $23.29 billion for the period.

The five-year-old company is best known for developing a family of AI models called Claude, and it primarily sells its products and services to enterprise customers. Anthropic is a capital intensive business, largely because of the complex infrastructure and hardware required to train and run large models.

In the amended S-1, Anthropic said it has entered into purchase commitments and lease agreements with an aggregate committed spend of about $895.4 billion, "substantially all of which is related to compute and infrastructure."

Anthropic said its compute and infrastructure expenses increased by $14.4 billion for the nine months ended Sept. 30, up 329% compared to the same period last year.

"As our compute and infrastructure capacity grows, the associated compute and infrastructure expenses have increased," Anthropic said in the filing.

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