Anthropic revenue jumps to $16.8bn as IPO approaches

Summarised from 3 outlets · Updated 15 Oct, 00:38 · Archive

AI firm Anthropic reported third-quarter revenue of $16.8bn, up 45% from the previous quarter, as it prepares for a public listing.

Anthropic's third-quarter revenue reached $16.8 billion, up 45% from the second quarter when it was $11.6 billion, according to an investor who attended a pre-IPO meeting with company leadership in San Francisco on Wednesday. This followed first-quarter revenue of $4.7 billion. The company is targeting a valuation of over $2 trillion.

Anthropicis seeking to persuade investors that its breakneck revenue growth can eventually outrun the enormous costs of building and running AI systems. The AI firm has committed hundreds of billions of dollars in future spending under long-term agreements for cloud services, computing and infrastructure. Scrutiny of AI companies' finances has intensified as they pour money into chips, data centres and computing power needed to develop increasingly powerful models.

Founded by former OpenAI executives, Anthropic has emerged as one of the leading generative AI developers with its Claude family of models. Its expansion has been backed by Alphabet's Google and Amazon, which are simultaneously investors, suppliers of computing power and distribution partners. Anthropic's IPO is expected to precede a public listing by rival OpenAI and is likely to be pushed until after the November midterm elections.

Anthropic revenue jumps to $16.8bn as IPO approaches — Image: BBC Technology

Comments (0)

How it is being reported

Anthropic revenue surges to $16.8bn ahead of stock market listingIt comes as the AI giant is expected to make a blockbuster stock market debut by the end of the year.BBC Technology · 15 Oct, 02:14
Anthropic revenue surges 45% to nearly $17B in third quarter as AI giant gears up for IPODario Amodei's Anthropic is seeking to convince investors that its breakneck revenue growth can eventually outrun the enormous costs of building and running AI systems.New York Post · 15 Oct, 00:26
Anthropic revenue jumps to $16.8bn in third quarterAI start-up gathered investors for presentations in San Francisco on Wednesday ahead of its anticipated public listingFinancial Times · 14 Oct, 23:06

In this story: Anthropic · Google · Amazon · OpenAI · Dario Amodei · San Francisco

This summary was written by AI from the headlines and standfirsts above, and states as fact only what at least two outlets report. How we use AI · Report a problem