Anthropic reports $10.8B in contracted revenue as $265M financing commitment stays unconfirmed

Anthropic has disclosed $10.8 billion in remaining performance obligations. The company expects 75% of that figure to be recognized as revenue within the next 12 months. A separate $265 million financing commitment remains unconfirmed, and as of late October it had not been secured. What the numbers actually say Remaining performance obligations, or RPO, is accounting shorthand for revenue that is already under contract but not yet delivered. Think of it as an order book: customers have signed, and the company still has to do the work. For Anthropic, that backlog stands at $10.8 billion. The company’s own expectation is that three-quarters of it converts into recognized revenue over the coming year. The $265 million financing commitment is a different matter. It has been reported but not confirmed, so it should be treated as pending until the company or its counterparty says otherwise. A company built on very large numbers Anthropic, best known for its Claude models, has raised over $30 billion across 2025 and 2026, with valuations landing between $350 and $380 billion. Anthropic has pledged more than $500 billion in infrastructure commitments to partners including Amazon, Google, ...