Sources: Anthropic told investors that distillation accounts for 5% to 7% of revenue; its rapid but slowing revenue growth could weigh on its IPO valuation (Cory Weinberg/The Information)

Anthropic reportedly informed prospective investors during a meeting at its San Francisco headquarters that its third-quarter revenue rose to $16.8 billion. KahawaTungu, BBC Business, and SiliconANGLE report this represents a 45% surge for the three months ending in September. This follows successive quarterly increases from $4.7 billion in the first three months of the year to $11.6 billion in the following period, according to BBC Business.

Investing.com notes that while revenue grew sharply, the pace is slower than the growth seen earlier in the year and fell below some expectations. The company told investors it was cash flow positive and achieved profitability on an adjusted basis for the second consecutive quarter, according to Investing.com. Additionally, The Information reports that distillation accounts for 5% to 7% of the company's revenue.

The company is preparing for an initial public offering, which is widely expected to take place in November, according to Investing.com and SiliconANGLE. While SiliconANGLE notes the company is targeting a valuation of up to $2 trillion, The Information suggests that the slowing rate of revenue growth could weigh on the IPO valuation. An Anthropic spokesperson declined to comment on the figures.

Brief written by urgent.news from Techmeme, KahawaTungu, Investing.com, BBC Business, SiliconANGLE — 5 reports on this story. Machine-written — may contain errors; check the original before relying on it.