Anthropic Reports 16.8 Billion in Revenue as AI Growth Slows

Anthropic's third-quarter revenue reached $16.8 billion, intensifying concerns about slowing artificial intelligence growth as the company prepares for an anticipated initial public offering. The figures, disclosed to prospective investors this week, showed a growth rate below 50% from the June quarter, raising questions about whether the industry's rapid expansion can sustain investor expectations.

According to Bloomberg's October 15 report, Anthropic's latest performance marked a significant deceleration from the triple-digit growth rates recorded earlier in 2026. However, estimates from SemiAnalysis put the company's annualized revenue at approximately $74 billion, up from $65 billion at the end of July.

The figures also emerged as financial institutions prepared substantial funding for AI infrastructure. Bankers had been arranging $60 billion in new financing for Anthropic's AI chip investments and seeking another $50 billion for rival OpenAI, according to Bloomberg.

Anthropic is expected to begin marketing its IPO in early November, with market estimates placing its potential valuation as high as $2 trillion. The slowdown in revenue growth has therefore become a focal point for investors assessing the sustainability of the broader AI investment cycle.

Criticism intensified on social media after the revenue figures circulated. Geiger Capital, a market research publication, shared a graphic tracking Anthropic's revenue run rate and described the results bluntly.

"Not good enough. It's over." Geiger Capital wrote on X.

Gary Marcus, an AI researcher and author known for criticizing the industry's enthusiasm for artificial intelligence, also questioned the outlook by recalling an earlier Anthropic revenue forecast. In a discussion with a user defending the company, the debate turned to whether slower growth reflected declining demand for intensive AI usage and stronger competition from Chinese open-source models.

Andrew Yang, a technology entrepreneur and former US presidential candidate, highlighted the potential consequences for technology valuations if investors interpret Anthropic's figures as evidence of weaker industry-wide growth.

"Anthropic's quarterly revenue growth rate of ~45% is going to be seen as disappointing, and will put massive pressure on the AI hypergrowth story. If valuations start correcting, watch out below." Andrew Yang wrote.

Citrini Research, which gained widespread attention in February for publishing a hypothetical economic doomsday scenario that preceded a brief stock market sell-off, also reacted to the figures.

"Oh it's over over" Citrini Research posted.

Independent journalist and researcher Ed Zitron, who has criticized the financial foundations of major AI companies, questioned the expectations surrounding Anthropic's disclosures and the industry's use of projected revenue figures.

"The absolute best thing about this story is that boosters are furious Anthropic didn't give a new magical made up run rate number," Ed Zitron wrote.

Beyond investor sentiment, business adoption data cited by Bloomberg suggests that customers may be becoming more sensitive to the cost of AI services. A survey of almost 400 businesses conducted in April and May found that one in four organizations had delayed or canceled AI initiatives, with rising costs emerging as a growing obstacle to adoption.

Market reactions extended beyond AI companies. After Anthropic's revenue figures became public, South Korea's Kospi fell by as much as 9.3%, while Japan's Nikkei 225 declined by as much as 5.4%, according to Bloomberg's report.

The figures have placed Anthropic's growth trajectory under closer scrutiny ahead of its anticipated public offering, while investors weigh expanding AI revenues against slower quarterly growth and evidence of greater price sensitivity among business customers.

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• Anthropic
• Artificial Intelligence
• Technology Industry
• IPO
• AI Investment