Anthropic, the artificial intelligence company behind the Claude models, reported about $17bn in revenue for the third quarter in an updated filing for its planned stock market listing.
The amended registration statement, filed on Monday, November 2, showed revenue of $16.96bn in the three months to September 30, more than eleven times what the company made a year earlier.
Growth is slowing
The pace of growth has eased, however. Revenue rose 47 percent from the previous quarter, down from 144 percent quarter-on-quarter growth three months earlier, according to the filing as reported by SiliconANGLE. That is still exceptionally fast for a company of its size, but investors will watch closely whether the slowdown continues.
Losses and commitments
The filing shows a large net loss, which includes a $21.9bn non-cash charge linked to changes in the value of convertible notes and other securities, driven by the company's rising valuation.
Anthropic also disclosed purchase commitments and lease agreements totalling about $895.4bn, almost all for computing power and infrastructure. That figure illustrates the enormous cost of training and running advanced AI models, and how dependent AI companies have become on long-term deals with chipmakers and cloud providers.
Reports differ on the company's operating loss, depending on the period measured.
How much will it be worth?
As in its original filing, Anthropic did not state a valuation or how much it plans to raise. The Wall Street Journal reported that institutional investors have suggested a valuation of about $1.5tn to $1.6tn, down from earlier talk of around $2tn, citing a sell-off in technology shares. Anthropic's last private funding round valued it at $965bn, according to reports.
Bloomberg reported that the company hopes to raise at least as much as the $86.2bn that SpaceX raised in its listing earlier this year, which would make it one of the largest IPOs in history. Separate reports said Anthropic is looking to raise $3.5bn from investors in Japan as part of the offering.
What's next
The company plans to list on the Nasdaq under the ticker "ANT". The listing is expected in November, once it sets a price range and completes marketing to investors.
Sources and references
- 1.Anthropic's quarterly revenue jumps to $17B, losses grow ahead of IPO — SiliconANGLE
- 2.Anthropic Reports $17 Billion Quarterly Revenue Ahead of IPO — PYMNTS
- 3.Anthropic Just Released Updated Numbers Ahead of Its Nov. IPO — The Motley Fool
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