Anthropic eyes Nasdaq listing as a second profitable quarter aims to win over investors ahead of a mega-IPO

Anthropic has told investors it will turn a profit for the second straight quarter, but the claim rests on an adjusted metric that leaves out costs like stock-based compensation. Gross margins run above 80 percent, according to the Financial Times , though that figure comes before revenue-sharing payments to partners like Amazon and the cost of training models.

Quarterly revenue jumped 14-fold from a year earlier to $11.5 billion, and the annualized run rate hit $65 billion at the end of July . SemiAnalysis analyst Joey Brookhart says investors expect $120 billion in annualized revenue by year's end and nearly triple that by the close of 2027.

Anthropic plans to go public on the Nasdaq at a possible valuation of $2 trillion or more. Rather than release its prospectus last week as expected, the company shared the documents with only a small group of investors at first. At the same time, CEO Dario Amodei publicly called for slowing down AI development . OpenAI CEO Sam Altman and Elon Musk backed the call . Altman told Fortune that OpenAI won't go public this year. Ad Ad