Anthropic reveals surging revenue, $895 bln in commitments ahead of potential IPO
Anthropic has disclosed its third-quarter financials ahead of a potentially record-setting IPO
Claude developer Anthropic plans to go public before Thanksgiving, which falls on November 26 this year / Photo: FotoField / Shutterstock.com
Anthropic has filed an updated Form S-1 with the U.S. Securities and Exchange Commission, providing more detailed financial results ahead of a potential IPO. The filing shows that third-quarter revenue rose 12-fold year over year. That could fuel interest in the offering, which could go down as the largest ever, Bloomberg reports.
What Anthropic disclosed
Revenue for the third quarter, ended September 30, totaled almost $17 billion, 12 times the amount reported a year earlier.
The net loss for the quarter was $23.3 billion versus $12.1 billion a year earlier.
Quarterly operating expenses rose 292% year over year to $17.5 billion.
Anthropic also disclosed $895 billion in commitments, most of them related to computing power and infrastructure. The management expects around $448 billion of that total to be incurred by the end of 2030, with around $70 billion due in the year through September 2027.
Context
Anthropic plans to go public before Thanksgiving in the U.S., which falls on November 26 this year. It is seeking to match or exceed the $86.2 billion SpaceX raised in its IPO, sources told Bloomberg. Investors have told bankers working on the offering that they consider $1.4-1.5 trillion a fair valuation for Anthropic, though a valuation closer to $1.75 trillion is potentially achievable, Bloomberg reported.
Goldman Sachs and Morgan Stanley are leading the IPO, with 20 other banks participating. Anthropic and some of its investors will sell shares in the offering, with the stock expected to trade on the Nasdaq under the ticker symbol ANT. The offering will mark the first public listing by a company focused primarily on developing the most advanced AI models.
