# Anthropic's key number is its 85% gross margin

> Original title: Anthropic’s key number is its 85% gross margin

- Source: Semafor · Technology
- Published: 2026-10-28T17:26:38.000Z
- Bad Influence: https://badinfluence.news/items/yeyhr8m8weo1riul14p30mnnj
- Original: https://www.semafor.com/article/10/28/2026/anthropics-key-number-is-its-85-gross-margin

## Summary

Anthropic's IPO filing reported an 85% gross profit margin on running its existing AI models, a figure that counters skeptics who doubted pay-as-you-go pricing could be profitable. The article says the margin excludes training costs and that Anthropic still loses a lot of money overall. It compares the margin with Meta's ad business at roughly 81-82%, Google Search ads at 75–80%, and the iPhone at mid-40s.