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Anthropic expects to post positive adjusted operating income for a second consecutive quarter, signaling improving financial performance as the artificial intelligence company moves closer to a potential IPO, the Financial Times reported Monday.
The Claude AI developer has informed a small group of shareholders about the expected result as it seeks to ease concerns over the substantial cash requirements associated with developing frontier AI models. The adjusted operating income figure excludes expenses such as stock-based compensation.
According to the FT, Anthropic's gross margins exceed 80% before factoring in revenue-sharing agreements with distribution partners including Amazon and expenses related to training its AI models.
Maintaining profitability would represent an important milestone for the five-year-old AI company as it considers going public. Anthropic has reportedly selected Nasdaq for a potential IPO that could value the business at $2 trillion or more.
The company recorded an adjusted operating profit during the second quarter as revenue climbed 14-fold from the same period a year earlier to $11.5 billion. Anthropic's annualized revenue reportedly reached $65 billion by the end of July, a sharp increase from $9 billion at the end of 2025.
The rapid growth highlights strong demand for Anthropic's Claude models while investors increasingly focus on whether leading AI companies can convert surging revenue into sustainable profits.
However, Anthropic's potential IPO comes as the broader AI industry faces mounting scrutiny over the financial and safety implications of developing increasingly advanced models.
Chief Executive Dario Amodei called over the weekend for the industry to slow the pace of AI development, according to the FT. OpenAI CEO Sam Altman and SpaceX CEO Elon Musk reportedly expressed similar views.
Employees at competing AI laboratories have also discussed ways to manage AI development more safely, people familiar with the matter told the FT. Those conversations have intensified following recent security breaches and growing concerns about the capabilities of next-generation artificial intelligence systems.
