According to CoinMeta’s analysis, Anthropic reported revenue of $16.956 billion in the third quarter, a year-on-year increase of 46.7%. However, costs related to computing power and infrastructure rose by 77.5% to $9.863 billion, resulting in an adjusted operating margin falling from 19% to 15%. The company disclosed long-term procurement and leasing commitments totaling approximately $895.4 billion. Following the release of the financial data, as of 14:00 on November 3rd, the pre-listing perpetual contracts for XYZ on Binance and OKX on HyperLiquid fell by 4.86%, 4.82%, and 4.20%, respectively. Meanwhile, the average hourly trading volume of Binance-related contracts increased by 138.1%. sosovalue believes that rising computing power costs and declining margins are becoming important factors in the market’s valuation of Anthropic before its listing.