Anthropic's revenue grew to $33 billion through September from $4.6 billion in all of 2025, but sustainability is questioned as customers like Accenture have begun capping expenditure on Claude. The company's founders also intend to retain 50.1% of the voting power, which would leave outside shareholders with little control. Analysts suggest the company's forthcoming S-1 filing may reveal losses larger than current adjusted figures indicate.
Tuesday, October 20, 2026
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New Constructs Values Anthropic at $144B, 93% Below Targeted $2T IPO
Earnings4 days ago
A minus 175% operating margin last year makes the AI developer's own valuation goals appear unrealistic, according to research firm New Constructs. The firm values Anthropic at $144 billion—approximately 93% below the $2 trillion target the company reportedly seeks—and labels it the most ridiculous IPO of 2026. Reaching that $2 trillion mark would require the company to maintain a 10% profit margin for 10 years and grow annual revenue to $3.6 trillion by 2035.
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