Anthropic says it is on track for its first profitable quarter

In short: Anthropic has told investors it expects its first profitable quarter in Q2 2026, helped by fast-growing revenue.

What happened

Anthropic, an AI company based in San Francisco, is expected to post its first profitable quarter before rivals OpenAI and Elon Musk’s xAI, according to the Financial Times.

People familiar with the matter said Anthropic told investors its revenue for the second quarter of 2026 will be $10.9bn. That is more than double the $4.8bn it made in the first three months of 2026.

The same people said this would lead to an operating profit of $559mn for the quarter. Operating profit is what a company earns from its main business after paying everyday costs, before things like interest and taxes.

The report comes as Anthropic is also close to finishing a $30bn fundraising round that would value the company at $900bn. Anthropic has declined to comment, according to the FT.

AI companies often make a lot of sales but still lose money because they spend huge amounts on “computing power” (the rented machines and electricity needed to build and run AI, like paying for a giant fleet of high-powered calculators). The FT said Anthropic may not stay profitable, since it is increasing spending to meet demand.

Why it matters

This is a sign that at least one major AI lab may be able to cover its costs, even while spending heavily. It could also give Anthropic an advantage if it, OpenAI, and xAI all move toward an IPO, which is when a private company starts selling shares to the public.

Source: Financial Times