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Revenue

as of

Revenue from XBRL (the SEC’s tagged financial data) on EDGAR, with each value linked to its filing. We don’t show press run-rates.

Disclosed revenue, per lab

Each period once, from the newest filing. Restated values are marked as superseded.

Anthropic

issuer filing

Anthropic, PBC (CIK 0002130357). The lab’s own filing. We found its CIK through its S-1 of 2026-10-26 0001628280-26-067168

Anthropic reported revenue by period, newest first
Period Revenue Filing
→ · nine months · unaudited$33.2BS-1/A filed · EDGAR
→ · half · unaudited$16.3BS-1 filed · EDGAR
→ · year$4.58BS-1/A filed · EDGAR
→ · nine months · unaudited$2.54BS-1/A filed · EDGAR
→ · half · unaudited$1.16BS-1 filed · EDGAR
→ · year$386MS-1/A filed · EDGAR
→ · year$41.0MS-1/A filed · EDGAR

3 earlier values for these periods restated by a later filing. The revenue_facts export has them.

Read from the S-1’s Consolidated Statements of Operations, because the filing has no XBRL financials. A later filing’s figure for the same period replaces it.

S-1/A statement of operations (anthropic, 0001628280-26-068676)EDGAR XBRL company facts (anthropic, resolved filer)EDGAR submissions (anthropic, resolved filer)

Google

parent segment

Alphabet Inc. (GOOGL), Google Cloud segment. That’s a parent segment, not Google’s own revenue.

Google reported revenue by period, newest first
Period Revenue Filing
→ · nine months$75.5B10-Q filed · EDGAR
→ · quarter$30.7B10-Q filed · EDGAR
→ · half$44.8B10-Q filed · EDGAR
→ · quarter$24.8B10-Q filed · EDGAR
→ · quarter$20.0B10-Q filed · EDGAR
→ · year$58.7B10-K filed · EDGAR
→ · nine months$41.0B10-Q filed · EDGAR
→ · quarter$15.2B10-Q filed · EDGAR

+ 5 more periods

XBRL tag: RevenueFromContractWithCustomerExcludingAssessedTax

EDGAR XBRL segment facts (GOOGL filing 0001652044-26-000084)EDGAR submissions (GOOGL)

xAI

parent filing

Space Exploration Technologies Corp. (SPCX), consolidated. That’s the whole parent’s revenue, not xAI’s.

xAI reported revenue by period, newest first
Period Revenue Filing
→ · nine months$27.1B10-Q filed · EDGAR
→ · quarter$14.6B10-Q filed · EDGAR
→ · half$12.5B10-Q filed · EDGAR
→ · quarter$7.81B10-Q filed · EDGAR
→ · nine months$13.7B10-Q filed · EDGAR
→ · quarter$5.58B10-Q filed · EDGAR
→ · half$8.14B10-Q filed · EDGAR
→ · quarter$4.07B10-Q filed · EDGAR

XBRL tag: RevenueFromContractWithCustomerExcludingAssessedTax

EDGAR XBRL company facts (SPCX, xAI’s parent)EDGAR submissions (SPCX, xAI’s parent)

No SEC filing reports revenue for OpenAI, Meta, Mistral, DeepSeek, Alibaba, or Moonshot AI. We don’t use run-rates from press reports.

Audited SEC disclosures only, from EDGAR’s XBRL data (the SEC’s tagged financial data). Consolidated figures come from company facts, and segment figures from the filing’s own XBRL. If a lab’s S-1 has no tagged financials, we read its printed statement of operations until its first tagged 10-Q. Interim periods from it are unaudited and marked. Each value links to the filing that reported it. With no audited disclosure on file, nothing is shown. Press-reported run-rates are excluded.

Anthropic’s registration statement

What Anthropic, PBC’s S-1 and its amendments print beyond revenue. Each figure comes from the newest filing that states it.

CIK 0002130357

Statement of operations

$ millions, shares in thousands, and per-share figures in $. Dashes are the statement’s own.

Anthropic consolidated statement of operations by period, newest first
Line 9M 2026 S-1/A · unauditedH1 2026 S-1 · unauditedFY2025 S-1/A9M 2025 S-1/A · unauditedH1 2025 S-1 · unauditedFY2024 S-1/AFY2023 S-1/A
Revenue33,24216,2864,5852,5451,16338641
Compute and infrastructure18,8088,9457,3264,3812,3342,522433
Personnel4,8633,1521,8391,02753845495
Bartz settlement——1,5001,500———
Sales, marketing, and partnerships5,5293,168568322120432
Other operating and administrative5,3021,7141,41253930634762
Total operating expenses34,50216,97912,6457,7693,2983,366592
Operating loss−1,260−693−8,060−5,224−2,135−2,980−551
Interest income2,3591,11143123911510669
Change in fair value of convertible notes, derivative liabilities, and SAFEs−94,324−72,388−34,308−20,107−10,942−5,434−1,045
Other income (expense), net−10,397−8,757−8−3——−2
Total other income (expense), net−102,362−80,034−33,885−19,871−10,827−5,328−978
Loss before provision for income taxes−103,622−80,727−41,945−25,095−12,962−8,308−1,529
Provision for income taxes417212012712
Net loss−104,039−80,748−41,965−25,107−12,969−8,309−1,531
Net loss per share attributable to common stockholders, basic and diluted−50.10−39.88−23.04−13.90−7.25−5.43−1.42
Weighted-average shares outstanding, basic and diluted2,076,8102,024,9731,821,0851,806,8031,788,7311,528,9951,076,881
Not printed: cost of revenue, gross profit, research and development, sales and marketing, general and administrative.

3 periods also reported in the S-1 of 2026-10-26. Each column above comes from the newest filing that reports it. The prospectus_statements export has both.

Commitments

Contractual obligations, by year due · As of 2026-09-30 · S-1/A of 2026-11-02 · MD&A · unaudited · $ millions

Contractual obligations, by year due, As of 2026-09-30 · S-1/A of 2026-11-02 · MD&A · unaudited
Obligation Total 2026 2027 2028 2029 2030 Thereafter
Operating leases4,224573034624454662,491
Finance leases1,950121438422406390173
Purchase commitments313,8195,05328,42443,47346,90144,214145,754
Total319,9935,23129,16544,35747,75245,070148,418

Non-cancelable purchase commitments, by year · As of 2025-12-31 · S-1/A of 2026-11-02 · commitments note · audited · $ millions

Non-cancelable purchase commitments, by year, As of 2025-12-31 · S-1/A of 2026-11-02 · commitments note · audited
Obligation Total 2026 2027 2028 2029 2030 Thereafter
Total non-cancelable contractual commitments54,5597,05911,12810,8328,3045,42811,808
Aggregate obligations, including short-term and subsequent commitments (S-1/A of 2026-11-02)
approx. $895.4B
Fixed or minimum guaranteed purchase commitments, as of 2026-09-30 (S-1/A of 2026-11-02)
approx. $313.8B
Fixed or minimum guaranteed purchase commitments, as of 2026-06-30 (S-1 of 2026-10-26)
approx. $265.6B
  • In aggregate, the contractual obligations in the table below plus the short-term and subsequent commitments, as well as leases not yet commenced, each described in the paragraphs below, are approximately $895.4 billion, substantially all of which is related to compute and infrastructure. · S-1/A of 2026-11-02
  • As of September 30, 2026 (unaudited), expected future fixed or minimum guaranteed commitments under these agreements were approximately $313.8 billion with terms ranging from one to 20 years. · S-1/A of 2026-11-02
  • As of June 30, 2026 (unaudited), expected future fixed or minimum guaranteed commitments under these agreements were approximately $265.6 billion with terms ranging from one to 20 years. · S-1 of 2026-10-26

Customer concentration

Share of revenue · customers at 10% or more, named as the S-1/A of 2026-11-02 names them. “<10%” stands for its “*”

Anthropic customers at 10% or more of revenue
Customer FY2023 FY2024 FY2025 9M 2025 unaudited9M 2026 unaudited
Customer A<10%<10%12%11%<10%
Customer B<10%<10%12%14%<10%
Customer C43%<10%<10%<10%<10%
Customer D11%<10%<10%<10%<10%

Share of accounts receivable · customers at 10% or more, named as the S-1/A of 2026-11-02 names them. “<10%” stands for its “*”

Anthropic customers at 10% or more of accounts receivable
Customer at 2024-12-31 at 2025-12-31 at 2026-09-30 unaudited
Customer A<10%13%<10%
Customer E<10%<10%13%

Shares outstanding

8 of 13 share counts blank in the S-1/A of 2026-11-02.
Class T common stock to be outstanding after this offering
1
Class E common stock to be outstanding after this offering
0
Class F common stock to be outstanding after this offering
1
Class T common stock outstanding as of 2026-09-30
1
Class F common stock outstanding as of 2026-09-30
1

Risk factors

88 headings in 6 subsections in the S-1/A of 2026-11-02.

Against the S-1 of 2026-10-26: 0 added, 0 removed, 8 reworded.

What the parents disclose

Every fact Microsoft and Amazon tag with OpenAI or Anthropic in their newest 10-Q or 10-K. These are the parent’s own figures, never the lab’s revenue or valuation.

Microsoft on OpenAI

period to 2026-09-30msft:OpenAIGlobalLlcMember
Microsoft’s XBRL figures for OpenAI, from its newest filing
Fact Period As reported
Funding committedat 2026-09-30$13.0B
Funding paid inat 2026-09-30$12.0B
Gain or loss recognized (other income)3 months to 2026-09-30$272M
Receivables from the labat 2026-09-30$7.20B
Revenue from the lab3 months to 2026-09-30$10.0B
Stakeat 2026-09-3024%
Receivables from the labat 2026-06-30$6.00B
Gain or loss recognized (other income)3 months to 2025-09-30−$4.10B
Microsoft XBRL instance

Amazon on Anthropic

period to 2026-09-30amzn:AnthropicMember
Amazon’s XBRL figures for Anthropic, from its newest filing
Fact Period As reported
Preferred shares held (StatementClassOfStockAxis: PreferredStockMember)at 2026-09-30164,000,000
Upward adjustments to the investment9 months to 2026-09-30$62.8B
Credit facility term (ShortTermDebtTypeAxis: LineOfCreditMember)6 months to 2026-06-30P30M
Credit facility to the lab, available now (ShortTermDebtTypeAxis: LineOfCreditMember)at 2026-06-30$15.0B
Credit facility to the lab, maximum (ShortTermDebtTypeAxis: LineOfCreditMember)at 2026-06-30$20.0B
Period that obligation is expected to be satisfied overat 2026-06-30P10Y
Remaining performance obligation added3 months to 2026-06-30$100B
Upward adjustments to the investment9 months to 2025-09-30$7.20B
Amazon XBRL instance

How a lab gets a number here

What happens the day a lab files for itself.

We check EDGAR every 30 minutes. That covers the full-text search for new S-1s, the filings of each company we track (S-1, 424B4, 10-Q, 10-K, and 8-K), and the XBRL data of each company that reports revenue. A new S-1, 424B4, 10-Q, or 10-K from a company we track always raises an alert.

When a lab files for itself, nobody has to do anything. Two full-text searches look for S-1s that mention Anthropic or OpenAI. When one comes from a company whose name matches the lab, we read its CIK (the SEC’s company ID) from the filing and raise a critical alert. From the next check on, we track that company’s filings and XBRL data. Its revenue then shows up above as an issuer filing, linked to the filing that identified it. A public parent that consolidates a lab is marked parent instead, and its numbers are labeled as the parent’s everywhere they appear.

Some parents report the lab’s business inside one segment (Google inside Alphabet’s Google Cloud). There the numbers are that segment’s, read from the XBRL in each 10-Q and 10-K on our 6-hour check, and labeled as the segment instead of the lab.

Data from the last 90 days is CC BY 4.0. Older data is CC BY-NC 4.0, except what we published before 2026-11-04, which stays CC BY 4.0. How you can reuse it.