Anthropic reports $17 billion in third-quarter revenue and $23 billion net loss - Big Tech and the digital economy

The Claude developer’s revenue was 12 times higher than a year earlier, while its results also reflected a large accounting charge and substantial infrastructure commitments.

Anthropic reported $17 billion in revenue for the third quarter of 2026, a twelvefold increase from the same period last year. The Claude developer also recorded a net loss of $23 billion. The figures were disclosed Monday as the company prepares for a possible initial public offering later this month.

The update adds third-quarter results to the financial information Anthropic had previously shared with investors, which largely covered the first half of the year. Revenue rose 47% from the second quarter, slightly ahead of the 45% forecast in a private presentation. That was a slower pace than the 144% increase recorded between the first and second quarters.

For the first nine months of 2026, Anthropic reported $33 billion in revenue and a net loss of $104 billion. The company said the loss was largely influenced by a one-time $94 billion accounting charge related to convertible notes, which can later be converted into equity. On a measure excluding certain costs, its operating loss for the period was nearly $1.3 billion.

Anthropic had also entered into about $895 billion in commitments tied to data centers, chips and computing capacity by the end of September. Nearly $70 billion is due within 12 months, while another $448 billion is due by the end of 2030. The company reported $146.6 billion in cash and highly liquid investments at the end of the quarter.

The possible IPO could value Anthropic at as much as $2 trillion and raise $100 billion, according to the report. The company has confirmed it plans to set aside shares for individual investors, but has not said how large that allocation would be.

The financial figures come as investors assess whether fast-growing AI companies can sustain the investment needed to build and operate their models. Brandon Ross, an analyst at LightShed Partners, told The New York Times that Anthropic’s infrastructure buildout could put pressure on its finances. The report also noted wider concerns about technology companies’ AI spending and the risks if demand falls short of expectations.

Separately, Anthropic has updated Claude Code’s instructions to prevent the tool from reproducing specific existing video games. The new guidance steers it toward original games, genre-inspired projects and work based on designs or assets supplied by users. Anthropic representative Addy Osmani confirmed the change to The Verge, saying that using Claude to infringe intellectual property violates the company’s policies. Original projects remain allowed, and the company plans to keep refining its guidance.

Sources: Olhar Digital.