The Financial Times reports Anthropic has told investors it expects positive adjusted operating income for a second consecutive quarter, projecting roughly $559 million in Q2 operating profit on $11.5 billion in revenue, up from $4.73 billion in Q1. The company puts gross margins above 80% before revenue sharing with Amazon and before training costs. Separately, Business Insider reported on Sunday, via Seeking Alpha, that Anthropic has picked Nasdaq for a potential IPO, targeting an October listing after filing confidentially on June 1. Profitability is the number that matters here: frontier labs have spent years arguing that scale would eventually pay for itself, and this is one of the first quarters where a major lab is claiming it does. The filing will show whether the accounting holds up.