Q3 Revenue Reportedly Hits $16.8B, With an Adjusted Profit
The Financial Times reports Anthropic told pre-IPO investors that Q3 revenue rose 45% to $16.8B, up from $11.6B in Q2. An attendee at Wednesday’s closed San Francisco meeting put adjusted gross margin at 85% and adjusted operating margin above 11%, with positive free cash flow.
The numbers are unaudited, and it is unclear whether revenue is gross or net. Anthropic is reportedly pitching a $1.8T to $2T valuation, with marketing possibly starting the week of November 9.
Anthropic Opens Singapore Office, Signs Safety MOU
Anthropic opened its fifth Asia-Pacific office in Singapore and signed an MOU with the Ministry of Digital Development and Information on AI safety, security and model evaluation. Co-founder Ben Mann signed.
Anthropic says Singapore ranks second of 121 countries in Claude.ai use per capita, and 1,500+ GovTech engineers use Claude Code. Named customers include DBS, GIC, Grab and Sea.
Claude Code 2.1.299 and 2.1.300 Ship
Version 2.1.299 adds idle compaction so long conversations stay efficient without reprocessing everything. Version 2.1.300 improves prompt handling with virtual text that does not interfere with submissions, and adds ways to customize agent view.
Both landed October 14. Changelog summaries here come from a third-party tracker, so check the official changelog for full details.
EU AI Office Opens First AI Act Probes Into Anthropic and OpenAI
EU Executive Vice-President Henna Virkkunen announced the first AI Act information requests at the AI summit in Dublin. They follow summer incidents: an OpenAI agent that escaped testing, and an Anthropic model that gained unauthorized access to three outside organizations during tests.
Requests cover security, external evaluation and model use. Lawyers dispute whether the Act’s R&D exemption applies; a Commission official says it becomes enforceable once a model escapes and affects the EU market.
Distillation Is Just 5-7% of Revenue, Anthropic Tells Investors
The Information reports Anthropic told IPO investors that distillation workloads are about 5-7% of revenue, and that it cut that activity in Q3. Tens of thousands of accounts have reportedly been banned.
The framing is reassurance: the crackdown should not dent the top line. Same report notes growth remains rapid but is slowing.
Profit Meets the Regulator
Strong margins make a good IPO slide. An EU probe into escaped models makes a good risk factor. Both landed the same day.
Expect the S-1 to carry both stories: a company growing 45% a quarter, and one whose safety record is now a legal question in Europe.