Anthropic启动IPO，Q3营收170亿美元

Anthropic’s Initial Public Offering

AI will have a vast impact on the world. Anthropic is a public benefit corporation dedicated to securing its benefits and mitigating its risks.

“We believe that AI is one of the most consequential technologies in human history. If managed well, it could rapidly accelerate scientific innovation, greatly increase economic growth rates, bring cures for major diseases within reach, and solve problems that have resisted generations of human effort.”

Read the Founders’ letter

Read the Founders’ letter

Roadshow video

• Introduction
• Our opportunity and core advantages
• Product and platform
• Frontier and safety research
• Bristol Myers Squibb
• Approach to compute
• Accenture
• Enterprise strategy
• AIG
• Financial model
• Conclusion

Q3’26 Financial highlights

• $17.0B

Revenue

• >12x

YoY revenue

Customers ≥ $100K TTM revenue1

• >12x

YoY customers ≥ $100K TTM revenue1

Compute efficiency gain since Q1’252

Adjusted Operating Margin3

Net Loss

• (due to an increase in our valuation, net loss includes a $21.9 billion non-cash charge related to a change in the fair value of convertible notes, derivative liabilities, and SAFEs)
• (3)%

Operating Margin

1As of September 30, 2026.

2Measured as revenue divided by compute and infrastructure expenses in Q3’26 divided by the same ratio in Q1’25.

3See the section of our European prospectus titled “Management’s Discussion and Analysis of Financial Condition and Results of Operations—Non-U.S. GAAP Financial Measures / Alternative Performance Measures” for a reconciliation of Adjusted Operating Margin to Operating Margin.

Customer stories

01Legora

Scaling an agentic operating system for lawyers

Download case study

“AI is becoming fundamental to how legal work gets done, and it will reshape how law firms and in-house teams operate. We have found Claude to be brilliant at instruction following and powering agentic workflows.”

Jacob LauritzenCTO at Legora

• 1,500+Law firms and in-house teams served
• 4.3Non-billable hours recaptured per lawyer weekly, in an independent study of 31 firms
• 100%Claude Enterprise employee access
• 14xClaude Code growth (about 50 seats to 700 company-wide)

02Lilly

Bringing the most powerful tools in science to every team

Download case study

“Science and technology have always advanced together. So we gave Claude to our scientists first. Now Claude is across the company, and we can’t imagine going back. Patients are waiting, so we can’t.”

Diogo RauExecutive Vice President & Chief Information and Digital Officer at Eli Lilly and Company

• 50,000+Employees with access to Claude Enterprise
• 5xExpansion since rollout
• >85%Employees in key functions actively engage with Claude

03Rakuten

Turning every employee into a builder

Download case study

“Agents like Claude Code shine when we work with them to minimize the cost of new innovation—a quick transition from idea to production. Give a capable person agents that hold context and taste, and it lets hidden talent scale their potential 100 times over.”

Yusuke KajiGeneral Manager, AI for Business at Rakuten

• 70+Business units using AI
• 99.9%Code accuracy delivered on complex code modifications
• 7+ hrsAutonomous coding
• 24→5 daysWorking days for new feature time to market

04Salesforce

Re-engineering how a global enterprise builds itself

Download case study

“By fusing Claude’s extraordinary reasoning with the trusted data, workflows, and governance every enterprise runs on, we’re delivering a dynamic interface that thinks, reasons, and acts. This is how every business will run.”

Marc BenioffChair & CEO at Salesforce

• +151%Effective output per developer year over year
• 18x fasterAPI migration (231 days of work in 13 days)
• 2xQuarter over quarter productivity gains (estimated 8.1 million hours annualized)
• 99%Salesforce employees using Slackbot

05Walmart

Making shopping faster, easier, and more personal

Download case study

“We’re using AI to make shopping more intuitive and engineering more productive. Agents like Claude are helping us do both, from better understanding customer intent to accelerating repeatable development work.”

Daniel DankerEVP AI Acceleration, Product & Design at Walmart

• 110%+Growth in Sparky weekly active users quarter over quarter
• ~35%Increase in average order value via Sparky vs. non-Sparky orders
• 2x+Increase in units sold via Sparky quarter over quarter

How to participate

Documents and FAQs

Relevant documents

• IPO Fact Sheet
• European Prospectus
• Financial Statements
• Certificates of Incorporation
• Amended and Restated Certificate of Incorporation of the Company, as amended and as currently in effect
• Form of Amended and Restated Certificate of Incorporation of the Company, to be in effect upon completion of the global offering
• Bylaws
• Amended and Restated Bylaws of the Company, as amended and as currently in effect
• Form of Amended and Restated Bylaws of the Company, to be in effect upon completion of the global offering
• Summary EU Prospectus
• Summary EU Prospectus (English)
• Summary EU Prospectus Translation (French)
• Summary EU Prospectus Translation (Spanish)
• Summary EU Prospectus Translation (Swedish)

FAQs

• What is the timeline for the IPO?
• The IPO process begins with a roadshow starting on November 10th (EST). Subject to regulatory clearance, the final IPO share price is expected to be set on November 18th (EST), and shares are expected to begin publicly trading on November 19th (EST).
• What is Anthropic offering in this IPO?
• Anthropic is offering shares of its Class A common stock to the public, which will trade on Nasdaq under the ticker symbol “ANT”.
• How can I participate in the IPO?
• You can request shares through a participating brokerage platform. To participate, you must have an active account and submit an indication of interest through their platform.
• Am I eligible to participate in the Anthropic IPO?
• Your brokerage account or investing app will confirm whether you’re eligible when you submit your request to participate.
• At what price will the shares be offered?
• The final IPO price is expected to be determined on November 18th (EST), based on regulatory clearance, investor demand and market conditions.
• When will I know if I received shares of Anthropic?
• Your brokerage account or investing app will confirm your allocation on the first day of trading, which is expected to be November 19th (EST).
• What is the difference between buying in the IPO and buying after the stock begins trading?
• Shares bought in the IPO will be purchased at the offering price, which is expected to be set on November 18th (EST). Shares bought after Anthropic starts trading will be purchased at the prevailing market price at that time.
• Will I receive all the shares I apply for?
• There is no guarantee that any investor will receive all or any of the shares they apply for in the Anthropic IPO. However, you should be ready to purchase all the shares for which you apply.
• What is the prospectus?
• A prospectus is a regulatory filing that provides detailed information about Anthropic’s business, financial statements, risk factors, management team, use of proceeds, offering details, among other items. Investors should review the prospectus closely before investing.
• Why does the European prospectus state a maximum price, and will I pay that price?