Anthropic told investors quarterly revenue rose nearly 50% to $16.8bn, the FT reports

Simon Willison summarised on 15 October 2026 a Financial Times report that Anthropic told investors its quarterly revenue rose nearly 50% to $16.8bn ahead of its IPO. According to the FT's sources, revenue was about $4.8bn in the first quarter of 2026, $11.5bn in the second and $16.8bn in the third. In the third quarter Anthropic made $1.70 in revenue for every $1 spent on computing power, and adjusted operating margins excluding stock-based compensation were 11%. The FT also reports that Anthropic has clamped down on rival labs distilling its models.

What it means Revenue per compute dollar and margins are the numbers investors will use to judge whether frontier-model economics hold up. These are anonymously sourced figures given to investors, not audited results.