Anthropic flags revenue surge to investors ahead of stock market debut

Artificial intelligence (AI) company Anthropic reported a significant surge in revenue, rising by 45% to $16.8bn (£12.7bn) over the three months ending September. The figures were disclosed by the company as it prepared for an anticipated stock market debut, set to occur before the end of the year. This revenue growth follows a pattern of consistent increases, climbing from $4.7bn in the previous quarter to $11.6bn in the latest period.

Anthropic has also confirmed profitability for two consecutive quarters. The news of Anthropic's fiscal success comes amidst broader concerns surrounding investments in AI infrastructure. Tech stocks, including those of chip manufacturers such as AMD, Nvidia, and Intel, have experienced sharp declines following remarks by Broadcom CEO Hock Tan.

Tan expressed skepticism regarding investor expectations in the AI sector, stating that many have unrealistic, "extreme expectations" akin to gambling. Additionally, there have been growing concerns about the safety of AI models. OpenAI CEO Sam Altman recently indicated that his company would postpone its planned public listing this year, citing safety concerns.

OpenAI is also planning a substantial stock market listing, aiming to value the firm at over $1tn. Anthropic's CEO, Dario Amodei, has similarly advocated for a more cautious approach to AI development. Despite these challenges, Anthropic has continued its global expansion, establishing a new office in Singapore on Wednesday.