Revenue grew 12-fold last year to nearly $4.6 billion. Nearly a quarter of it came from just two customers, and the company warned that many of its largest clients are not locked into long-term contracts. Anthropic held $20.28 billion in cash and short-term investments at the end of 2025.
Crypto traders barely reacted
Anthropic pre-IPO perpetual futures, which let traders bet on the company’s valuation before it lists, traded at $1,998 on Tuesday across major exchanges, down about 2% over 24 hours, according to CoinMarketCap. The price remains about 10% below its Sept. 9 record of $2,211.
Each contract’s price tracks Anthropic’s expected valuation in trillions. A price of $1,998, therefore, means traders value the company at about $2 trillion, based on Binance’s pricing. That aligns with Reuters’ figure.
Twelve exchanges list Anthropic pre-IPO perpetuals, according to Coin Metrics. Open interest, or the dollar value of outstanding…
