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Story summary
- Anthropic is targeting a $2 trillion valuation in its planned November 2026 IPO.
- Anthropic reported $16.8 billion Q3 2026 revenue, a 45% quarter-over-quarter increase.
- The company said it was cash-flow positive and posted adjusted profitability for a second straight quarter.
- Analysts note the $16.8 billion run rate falls short of the $80-$105 billion annual revenue target.
- Saxo Markets strategist Charu Chanana warned valuation will depend on funding costs and returns despite growth.