Anthropic projects $10.9B Q2 revenue, $559M operating profit

Anthropic shared projections with investors showing $10.9 billion in revenue and a $559 million operating profit for the quarter ended June. That would be the company’s first quarterly operating profit.

The June quarter projection is more than double the $4.8 billion in revenue Anthropic reported in the first quarter.

Materials distributed to potential investors attribute the gains to rising demand for Anthropic’s Claude family of models and stronger commercial sales.

The projections were provided as part of ongoing fundraising discussions that have discussed a valuation near $900 billion. A $900 billion valuation would be above OpenAI’s most recent public valuation of roughly $852 billion from March.

Anthropic is also weighing an initial public offering and has discussed the possibility of listing as early as October.

OpenAI has reported missed internal revenue and weekly user targets earlier in 2026 and is preparing a confidential S-1 filing with banks ahead of a planned public offering.

Anthropic is seeking additional capital to fund product development and expansion while it evaluates financing options and the timing of a potential IPO.