[Anthropic Roadshow Reveals Long-Term Operating Profit Margin Target of 35% or Higher, Computing Expenditure Target to Decrease to 45%-50%] Beating AI News reports that Anthropic, in its IPO roadshow video released on November 10th, disclosed that the company believes it can achieve an adjusted operating profit margin of 35% or higher in the long term, higher than the 15% in the third quarter of 2026, but did not provide a specific timeline for achieving this. Anthropic CFO Krishna Rao stated that the company plans to improve its long-term cost structure by increasing computing efficiency, increasing the proportion of directly leased chips and data centers, and expanding the proportion of inference business. The target for computing and infrastructure expenditure as a percentage of revenue is to decrease from 58% in the third quarter to 45%-50%; sales, marketing, and partner expenses are expected to decrease from 14% to 7%-10%; and adjusted personnel and other operating expenses are expected to decrease from 13% to 7%-10%. On the customer side, as of the end of September, Anthropic had over 11,900 enterprise customers contributing more than $100,000 in revenue over the past 12 months, including over 1,900 customers contributing more than $1 million and approximately 250 customers contributing more than $10 million. The net revenue retention rate for enterprise customers is approximately 900%, and more than half of the enterprise customers use both the Claude Platform and at least one Anthropic proprietary application. The roadshow also showcased application examples from customers such as Eli Lilly, Rakuten, Salesforce, and Walmart. Regarding computing efficiency, Anthropic uses the ratio of revenue to computing and infrastructure spending as a metric. This metric improved from 0.40 times in Q1 2025 to 1.72 times in Q3 2026, approximately 4.3 times higher than before, but lower than 2.08 times in Q2. The company stated that it used approximately $5 billion in short-term computing power in the third quarter, the cost of which was significantly higher than the computing power purchased under multi-year agreements. In terms of actual performance, Anthropic's third-quarter revenue was $16.956 billion, with adjusted operating profit of $2.463 billion and an adjusted operating profit margin of 15%, lower than the 19% in the second quarter. On a GAAP basis, the company still recorded an operating loss of $567 million in the third quarter. Adjusted figures exclude expenses such as stock-based compensation and non-cash charitable donations and cannot be equated with GAAP profits. As of the end of October, the company's annualized revenue run rate was approximately $81 billion, not the realized full-year revenue. Furthermore, Anthropic disclosed long-term computing power and infrastructure commitments of approximately $900 billion, of which approximately $451.6 billion is expected to occur before the end of 2030, and approximately $70.7 billion in related commitments expiring in the next 12 months. As of the end of the third quarter, the company held approximately $96 billion in cash and cash equivalents and approximately $36 billion in short-term investments.