Anthropic to Reveal Q3 Financial Data to Institutional Investors on Wednesday, IPO Valuation Could Hit $2 Trillion According to Bloomberg and CNBC, Anthropic will, for the first time, disclose its Q3 financial data to invited institutional investors at its San Francisco headquarters this Wednesday. The market is closely watching whether it can support an IPO valuation of approximately $2 trillion. Annualized revenue has risen from $47 billion in May to $65 billion by the end of July. Insiders suggest it could surpass $100 billion within the year, though this is based on an annualized metric, not actual full-year revenue. The key lies in the revenue recognition method: According to the prospectus, Amazon and Google Cloud marketplace channels will account for 47% of 2025 revenue. Anthropic recognizes revenue on a gross basis, with approximately $351 million in channel fees included as expenses. If calculated on a net basis, both revenue scale and gross profit margin would need to be recalculated.