Anthropic reports 45% quarterly revenue surge ahead of planned IPO
The AI company disclosed $16.8 billion in three-month revenue to prospective investors while planning a year-end stock market listing.
What happened
Anthropic reported revenue of $16.8 billion for the three months ending September, a 45% increase from the prior quarter's $11.6 billion, according to briefings given to prospective investors on Wednesday at the company's San Francisco headquarters. The company reportedly made a profit for the second quarter in a row. These figures were disclosed as Anthropic prepares for a stock market listing expected before year-end. The Claude-developer is simultaneously expanding globally, opening a new Singapore office on Wednesday.
Context
Anthropic and OpenAI's financial performance serve as gauges for the broader AI industry's growth and infrastructure capacity. However, the company's momentum comes amid broader market skepticism about AI spending. Concerns about excessive capital allocation to AI infrastructure have weighed on technology stocks, particularly semiconductor makers—shares in Nvidia, AMD, Intel, and South Korean firms Samsung and SK Hynix fell sharply on Wednesday and Thursday. Broadcom CEO Hock Tan said at a conference in Singapore that many investors have 'no clue' and have set 'extreme expectations only to find out that it's almost like they are in a casino.' Separately, OpenAI deferred its own IPO to address safety concerns, with CEO Sam Altman indicating the company will not go public this year; Anthropic's leadership has similarly emphasized risks, with CEO Dario Amodei calling for development to slow. These IPO preparations occur against a backdrop of both strong revenue growth and growing investor doubts about the financial viability of AI investment.