Anthropic has told a small group of investors that it remained profitable for a second consecutive quarter, with positive adjusted operating income and gross margins above 80%, the Financial Times reported. The adjusted measure excludes stock-based compensation, while the company’s profitability does not include the cost of building its next Claude model. Revenue reached $11.5 billion in the second quarter, 14 times the year-earlier level. Anthropic has also committed to multiple gigawatts of chip capacity with Google and Broadcom, a significant infrastructure investment ahead of its planned Nasdaq listing. Chief Executive Dario Amodei has urged the industry to slow the pace of AI-model development, prompting criticism from short seller Michael Burry after chip stocks fell the following trading day. Anthropic’s prospectus will show whether its reported profitability holds after including training costs. The company was previously valued at $965 billion following its May 2026 funding round, while market pricing assigned a 29% probability to a $3.0 trillion valuation by December 31.