Anthropic files amended IPO prospectus with third-quarter results

Summarised from 4 outlets · Updated 2 Nov, 16:03 · Archive

The AI company Anthropic filed updated financial figures with the SEC ahead of its anticipated initial public offering.

Anthropic has submitted an amended Form S-1 filing with the Securities and Exchange Commission on Monday, moving closer to what could become a historic initial public offering. The filing includes third-quarter financial results previously unavailable in the company's initial prospectus filed last week.

For the nine months to 30 September, Anthropic generated $33.24 billion in revenue, representing growth of roughly 1,200% from the same period last year. However, the company reported a net loss of $104 billion during this stretch, though most of this was attributable to changes in the fair value of convertible notes and derivative liabilities rather than operational losses. In the third quarter alone, revenue reached approximately $17 billion, up around 1,127% year-on-year.

Revenue growth has begun to decelerate on a sequential basis. Third-quarter revenue increased about 47% compared with the second quarter, down sharply from 144% growth in Q2 and 132% in Q1. The company reported a third-quarter net loss of $23.29 billion. According to the New York Post, some investors are valuing Anthropic at about $1.5 trillion, down from roughly $2 trillion previously.

The filing comes amid broader market concerns about the AI sector. Wall Street has expressed worry that rising interest rates will make debt costly for data centre developers, with recent quarterly reports from Microsoft, Google and Amazon raising questions about whether aggressive AI spending is sustainable.

How it is being reported

• Anthropic’s growth slows ahead of IPO as AI spending bill nears $900bnAnthropic’s revenue has surged twelvefold to nearly $17bn (£13bn), but the AI giant has slipped back into the red as its computing commitments approach $900bn ahead of a potentially record-breaking stock market debut. The Claude maker revealed the figures in an updated IPO filing on Monday, offering investors a fresh look at its finances just [...]City AM · 2 Nov, 18:47
• Anthropic reveals $900bn AI spending commitments ahead of IPOClaude maker’s infrastructure costs rise faster than revenues, as investors scrutinise economics of AI boomFinancial Times · 2 Nov, 16:31
• Dario Amodei’s Anthropic reports $23B Q3 loss in amended IPO filingAnthropic filed to go public last week, setting the stage for what could be the biggest initial public offering on record.New York Post · 2 Nov, 15:46
• Anthropic releases amended IPO prospectus with third-quarter financialsCNBC · 2 Nov, 14:47

In this story: Anthropic · Securities and Exchange Commission · Amazon · Alphabet · Microsoft · Google · San Francisco

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