Anthropic PBC told a small group of shareholders that it will report adjusted operating profit this quarter. According to Sina Finance, the company is preparing for an initial public offering, which would mark its second consecutive profitable quarter.

According to Sina Finance, the metric excludes certain special or one-time costs such as stock-based compensation. People familiar with the matter said the artificial intelligence company’s gross margin was above 80% before revenue sharing with partners including Amazon and before AI model training costs.

According to Sina Finance, the Claude model developer is preparing for an IPO with a target valuation that matches or exceeds SpaceX’s $86.3 billion fundraising record earlier this year. A person familiar with the matter said the company has chosen Nasdaq as its listing venue.