Anthropic revealed on Monday that its third quarter revenue had increased 12-fold from a year ago, as it updated its financial disclosures a week after releasing its filing for a public offering. Anthropic’s revenue in the third quarter was $17 billion, up more than 12 times from a year ago, while its net loss was $23 billion.
The third-quarter results are crucial for investors because the pace of change in artificial intelligence is so rapid that a company’s financial position can change drastically in a short time. Anthropic’s listing could value the company at $2 trillion, but investors must judge whether such a figure is supported by revenue growth keeping pace with spending. The public offering could set a record by raising $100 billion, but may not fund Anthropic’s intense infrastructure needs.
For the first nine months, Anthropic’s revenue was $33 billion and its net loss was $104 billion, driven largely by a one-time accounting charge. The loss included a one-time $94 billion charge related to convertible notes. Anthropic posted a smaller operating loss of nearly $1.3 billion during that period.
The public offering is expected this month amid concerns about billions tech companies are spending to build A.I. infrastructure. If successful, it would be the second blockbuster I.P.O. this year, after Space X’s June listing briefly made Elon Musk the world’s first trillionaire.
Source: New York Times Top Stories · Summarized by HeadlinesBriefing