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Anthropic's S-1 IPO filing reveals the company spent $1.7 billion on personnel expenses in Q3 2026, averaging $107,300 per employee monthly when including salaries, bonuses, benefits, and stock-based compensation. While personnel costs represented over 200% of revenue in 2023, they now account for just 15% of the company's $33.2 billion in revenue through the first nine months of 2026, though an IPO completion could trigger an $8.2 billion stock-based compensation charge for restricted stock units.
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