Anthropic generated $17 billion in revenue in the third quarter of 2026, compared with $11.6 billion in the previous quarter and $1.4 billion a year earlier. Its quarterly growth slowed to about 47% from 144%, while operating expenses rose to $17.5 billion. The company reported an operating loss of $567 million but remained profitable on an adjusted basis, with an adjusted operating margin of 15%, down from 19% in the previous quarter. It has also committed about $895.4 billion in spending, primarily for infrastructure, and had $146.6 billion in liquidity as of September 30.
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