Anthropic's quarterly revenue reaches $16.8bn ahead of IPO, FT reports
Original titleAnthropic tells investors quarterly revenue up nearly 50% to $16.8bn ahead of IPO
AISummary
The Financial Times reports that Anthropic told investors its revenue reached about $4.8bn in Q1, $11.5bn in Q2, and $16.8bn in Q3 2026. Anthropic also said distillation accounted for 5 to 7 percent of revenue and was cut back materially in Q3. Simon Willison estimates that rival labs spent over half a billion dollars distilling Anthropic's models in Q2.
AIWhy it matters
The post breaks down Anthropic's quarterly revenue and margins from an FT report, and adds a napkin estimate of distillation spending by rival labs.
Source: Simon Willison · simonwillison.netPublished · added here