Anthropic's Amended S-1 Shows Q3 Revenue of $16.96 Billion

What happened

This filing is Amendment No. 1 to the Oct 26 initial S-1, the first version to include results for the quarter ended Sept 30, and it fills in the compute and infrastructure commitment total left blank in the first version. The company plans to list on Nasdaq under the ticker ANT; the amended filing still gives no price range, share count or listing date.

Q3 revenue was $16.96 billion, versus $1.38 billion a year earlier, while compute and infrastructure expenses grew 382% year over year. The operating result swung from a $974 million profit in Q2 to a $567 million loss in Q3, and the net loss was $23.3 billion, versus about $12.1 billion a year earlier. The filing attributes the net loss mainly to non-cash accounting items tied to the fair value of convertible notes and derivative liabilities.

Nine-month revenue was $33.24 billion and the nine-month net loss was about $104 billion. As of Sept 30, purchase commitments and lease agreements for compute and infrastructure totaled about $895.4 billion, almost all related to compute and infrastructure. The amended filing adds that internal estimates suggest the company may imminently meet its Responsible Scaling Policy definition of 'dramatically accelerated progress attributable to AI'. Bloomberg reported the company aims to raise up to $3.5 billion from investors in Japan.

Key facts

1. Filing and date: Anthropic, Nov 2, 2026, Amendment No. 1 to Form S-1; the initial S-1 was filed Oct 26, 2026
2. Q3 revenue: $16.96 billion, up 1,127% year over year; $1.38 billion a year earlier
3. Q3 operating and net results: operating loss of $567 million, versus a $974 million profit in Q2; net loss of $23.3 billion
4. Nine months: revenue of $33.24 billion, net loss of about $104 billion
5. Compute commitments: about $895.4 billion as of Sept 30, almost all related to compute and infrastructure
6. Large customers: as of Sept 30, more than 11,900 customers paid over $100,000 in the trailing 12 months, more than 1,900 paid over $1 million, and about 250 paid over $10 million
7. Not disclosed: price range, share count and listing date remain undisclosed; a reported up to $3.5 billion from investors in Japan