Rolling in it … Anthropic says revenue jumped to nearly $17B last quarter: reports

Anthropic, an artificial intelligence lab based in San Francisco, reported a staggering revenue jump of nearly 50 percent to $16.8 billion in the September quarter, according to US media reports. The company, which is reportedly targeting a $2 trillion valuation for its much-anticipated initial public offering, is expected to surpass SpaceX's record-setting $1.8 trillion valuation when it goes public in November.

The company's investor presentation, shared with the Financial Times and Bloomberg, highlighted that Anthropic is free cash flow positive and has an 11 percent operating margin, both adjusted, in the third quarter. These impressive figures come despite the fact that the company recorded a net loss of $42 billion last year.

Anthropic's annualized revenue, which reached $65 billion earlier this year, is projected to reach $100 billion by the end of 2026. This puts the company ahead of its main rival, OpenAI, whose annualized revenue is around $50 billion.

While both companies use different methods to calculate their annualized revenue figures, Anthropic's growth trajectory and ambitious goals suggest it is poised to become a major player in the AI industry. The company's flagship product, Claude, and OpenAI's popular AI chatbot, ChatGPT, both contribute to the intense competition in the field. OpenAI, however, has pushed out its IPO plans until 2027.