Anthropic Tells Investors Growth Is Slowing Even as Cash Flow Turns Positive, FT Reports

3-line summary

• At a San Francisco investor presentation ahead of its planned November IPO, Anthropic told investors its Q3 revenue reached nearly $17 billion (consistent with the previously reported ~$16.8 billion figure, though the FT report's headline and body cite differing growth-rate percentages), was cash-flow positive, and generated $1.70 of revenue for every $1 of compute cost, marking a second straight adjusted-profitable quarter, according to a Financial Times report cited by Investing.com.
• The FT report said growth has slowed from the 'blistering pace' of early 2026 and missed some expectations, with annualized revenue run-rate now expected to come in below $100 billion. Context cited: Anthropic appears to be losing ground to OpenAI following the launch of GPT-6 Astra, and cheaper Chinese AI models are flagged as a revenue risk.

This summary is our own processing of the source article; see the source link below for full context.