Anthropic’s Amended S-1 Shows $17bn Q3 Revenue, $23.3bn Net Loss
Anthropic's amended S-1 shows Q3 revenue of $16.96bn, up 1,127%, an operating loss of $567m and a $23.3bn net loss driven by convertible note revaluations.
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OpenAI’s Revenue Run Rate Is Reportedly Nearer $50bn, Not $70bn: What “Annualised” Means
Update, 9 Oct 2026: Bloomberg reports that OpenAI expects to reach or exceed $70bn in annualised revenue by the end of the year, citing people familiar with the matter. That is a projection, not current revenue, and OpenAI declined to comment. The Financial Times reports that OpenAI told investors its annualised revenue was "approaching $50 billion" at the end of September, about $20bn below figures reported last month. What "annualised" means, why OpenAI and Anthropic count differently, and what the report does not prove.
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