TLDR
- Anthropic reported a $567 million third-quarter operating loss, reversing its $974 million profit in the previous quarter.
- Anthropic’s quarterly revenue reached nearly $17 billion, although growth slowed to 47% from 144%.
- The company attributed its operating loss partly to $5 billion in costly short-term computing commitments.
- Anthropic’s adjusted operating profit increased to $2.5 billion, while its adjusted operating margin declined to 15%.
- Anthropic disclosed approximately $895.4 billion in computing and infrastructure commitments extending over several years.
Anthropic reported a $567 million operating loss for the third quarter of 2026, reversing a $974 million profit in the previous quarter. The Claude developer disclosed the figures Monday in an amended filing ahead of its planned initial public offering.
Revenue reached nearly $17 billion, rising 47% from the second quarter. That marked a slowdown from the previous quarter’s 144% growth. Price cuts and customer discounts reduced revenue by about $600 million.
Anthropic Faces Higher Computing Costs
The company linked its operating loss mainly to $5 billion of computing capacity secured through short-term agreements. Those arrangements cost more than comparable multiyear contracts, according to its filing. The company also uses this capacity to develop models and serve customers.
Anthropic also recorded $2 billion in noncash expenses tied to its employee donation-matching program. Its initial IPO filing on October 26 had reported $16.3 billion in first-half revenue.
After excluding selected costs, including employee share compensation and charitable contributions, adjusted operating profit rose to $2.5 billion from $2.2 billion. However, the adjusted operating margin fell from 19% to 15%.
Infrastructure Commitments Approach $900 Billion
Anthropic disclosed $895.4 billion in purchase and lease commitments, largely covering computing equipment and infrastructure. The total includes agreements signed after September 30, rather than spending already completed.
About $69.8 billion falls due within 12 months of September 30. Separately, industry figures on AI data center expansion estimate that global electricity consumption by data centers could reach 950 terawatt-hours by 2030.
The filing said approximately $447.5 billion of its commitments would be incurred before 2031. Most remaining obligations extend from 2031 through 2045, covering facilities and computing services.
IPO Preparations Continue After Quarterly Loss
Anthropic reported a $23.3 billion net loss for the quarter. A $21.9 billion charge from changes in the value of convertible notes and related financial instruments accounted for most of that figure.
The company plans to list on Nasdaq under the symbol ANT. Meanwhile, pre-IPO crypto contracts linked to its prospective shares began trading on Hyperliquid, although those contracts do not represent ownership of Anthropic stock. For the first nine months of 2026, Anthropic reported $33.2 billion in revenue and a $104 billion net loss. The updated registration did not provide a final IPO price or share offering date.
