Anthropic’s third-quarter revenue rose 45% to $16.8 billion from the previous quarter, according to an investor who attended a pre-IPO meeting with Anthropic leadership in San Francisco on Wednesday.
Its public-market debut is likely to be pushed until after the November US midterm elections, Reuters has reported. The IPO is expected to precede a public listing by rival OpenAI, making Anthropic an early test of investor appetite for heavily unprofitable AI developers pursuing massive scale. Founded by former OpenAI executives, Anthropic has emerged as one of the leading generative AI developers with its Claude family of models. Its expansion has been underpinned by Alphabet’s Google and Amazon, which are simultaneously investors, suppliers of computing power and important distribution partners, as well as AI competitors. Anthropic has also sought to distinguish itself through its focus on AI safety, warning of the dangers posed by increasingly capable systems even as it competes in the race to develop and commercialize more powerful models.
Revenue in the first quarter was $4.7 billion, and $11.6 billion in the second quarter, according to the person who attended the investor day meant to familiarize prospective Anthropic investors before its highly anticipated IPO. Targeting a valuation of over $2 trillion, Anthropic is seeking to convince investors that its breakneck revenue growth can eventually outrun the enormous costs of building and running AI systems.
