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It's over." (Joe Wilkins Avatar)   By (https://futurism.com/authors/jwilkins) Joe Wilkins      Published  Oct 17, 2026 6:50 AM EDT           (https://www.google.com/preferences/source?q=futurism.com) Add Futurism (opens Google in a new window or tab)      More information Adding us as a Preferred Source in Google by using this link indicates that you would like to see more of our content in Google News results.        (CEO of Anthropic Dario Amodei looks on as U.S. President Donald Trump holds a press briefing with AI executives.)   Kevin Dietsch/Getty Images/Futurism    Sign up to see the future, today Can’t-miss innovations from the bleeding edge of science and tech  (handle_newsletter_email_submission) (f039550e72)  (/future-society/anthropic-investors-ai-financial-revenue)  (FUTinline) (0) Email address  (Enter your email) (Please enter a valid email address)  Sign Up  Thank you!           When your company is gearing up for one of the hottest IPOs in stock market history, you’d better believe investors and outside experts alike will be poring over your finances with a fine-toothed comb. This is the situation AI lab Anthropic finds itself in during the run-up to its widely anticipated public offering. Earlier this week, the (https://www.wsj.com/tech/ai/anthropics-quarterly-revenue-jumped-45-to-nearly-17-billion-1c7e28b8) Wall Street Journal reported that Anthropic had told private investors its revenue had grown 45 percent to nearly $17 billion. That news came nearly a month after news broke that the AI company was bragging to investors that it was profitable — although only if you used a (https://futurism.com/future-society/anthropic-claude-profit-ai-safety-development-finances) special accounting method that stripped out most of its expenses. Yet as investors immediately noticed, that $17 billion revenue figure is a drop in the bucket compared to the kind of growth needed to sustain the firm’s anticipated $2 trillion valuation. As (https://www.businessinsider.com/anthropic-revenue-ipo-ai-doomer-tech-investing-2026-10) Business Insider notes , Anthropic’s third quarter income might look incredible on paper, but it falls far short of the growth needed to justify its 13-figure target. “Not good enough,” a social media account belonging to market research blog Geiger Capital commented (https://x.com/geiger_capital/status/2110503403444916381?s=46) in a post . “It’s over.” “Anyone remember this?” posted AI researcher and critic (https://x.com/GaryMarcus/status/2110537076768977120?s=20) Gary Marcus , alongside a screenshot of a headline stating that Anthropic would need revenue of about $190-200 billion by 2028 to justify its valuation. “They ain’t gonna come close.” Anyone remember this?They ain’t gonna come close. (https://t.co/qkPTJmmwJi) pic.twitter.com/qkPTJmmwJi  — Gary Marcus (@GaryMarcus) (https://x.com/GaryMarcus/status/2110537076768977120?ref_src=twsrc%5Etfw) October 15, 2026    After the revenue announcement, (https://www.reuters.com/business/finance/investors-temper-anthropic-ipo-valuation-expectations-over-revenue-growth-2026-10-15/) Reuters reported that some investors immediately began weighing a lower valuation of about $1.5 trillion, representing a $500 billion gap in Anthropic’s narrative. Their concerns are understandable at this stage in the game, as the extremely high cost of the AI buildout is becoming increasingly difficult to justify. Whether Anthropic’s revenue growth trends upward — and steeply enough — is a crucial issue for the broader tech sector: in late September, a (https://www.theverge.com/ai-artificial-intelligence/1001858/anthropic-burning-money-losses) leaked IPO filing revealed that the company brought in $4.6 billion in revenue across 2025, but lost $42 billion. Given that the AI lab has committed to spending some (https://www.reuters.com/business/anthropics-518-billion-ai-buildout-hinges-largely-deals-that-cannot-be-canceled-2026-09-29/) $518 billion on AI infrastructure over the next decade, though, the time for Anthropic to tap into explosive revenue growth was clearly yesterday. More on Anthropic: (https://futurism.com/artificial-intelligence/anthropic-solve-humor) Eggheads at Anthropic Said They Used Claude to “Solve” Humor    Add Futurism as a (https://www.google.com/preferences/source?q=futurism.com) preferred source on Google to see more of our reporting.   (https://futurism.com/authors/jwilkins) (Joe Wilkins Avatar)   (https://futurism.com/authors/jwilkins) Joe Wilkins   Correspondent    I’m a tech and labor correspondent for Futurism, where my beat includes the role of emerging technologies in governance, surveillance, and labor.   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