Anthropic’s quarterly revenue jumps to $17B, losses grow ahead of IPO

Anthropic PBC reported a significant increase in quarterly revenue to $17 billion, up 47% quarter-over-quarter, for the three months ending September 30. However, this growth rate represents a slowdown from the previous quarter's 144% increase. The artificial intelligence company faces competition from open-source models, OpenAI, and tech giants like Google.

Anthropic spent $5 billion on hardware due to unexpected demand, and an additional $2 billion on employee donation matching. As a result, the company reported a $536 million operating loss for the quarter, compared to $974 million in operating income from the prior period. Anthropic has $895.4 billion in infrastructure commitments and has signed leases with major tech firms such as Google, Broadcom, Amazon, Oracle, and SpaceX.

The company plans to build its data centers and continue renting computing capacity. Anthropic has not disclosed the amount it plans to raise through its upcoming IPO, but it aims to match or exceed the $86.2 billion raised by SpaceX during its recent listing. The AI provider is also considering requiring human review for certain tasks performed automatically by its models to mitigate potential risks.