Anthropic revenue rises 1,100 per cent ahead of planned IPO
The AI developer reported $17 billion in third quarter revenue despite a $23.3 billion net loss for the same period.
AI developer Anthropic recorded $17 billion in revenue for the July-September quarter, an increase of more than 1,100 per cent from $1.4 billion a year earlier, according to a report by the Economic Times.
The company, founded by Dario Amodei and Daniela Amodei, reported a net loss of $23.3 billion for the quarter in an amended IPO filing cited by AFP. Much of this loss was attributed to non-cash accounting charges related to the rising valuation of the firm.
The company's operating loss was $567 million as it increased spending on short term computing capacity. Anthropic's filing also disclosed spending commitments of approximately $895 billion, mostly for computing infrastructure, with $70 billion due before September 2027.
The company is considering raising about $100 billion at a valuation between $1.5 trillion and $2 trillion. Founders Dario and Daniela Amodei will keep 50.1 per cent of shareholder voting power through a special share.
As part of the US public listing, Anthropic intends to sell up to 552.9 billion yen ($3.5 billion) in shares to investors in Japan, Reuters reported. The proceeds will be used for capital expenditure, operating expenses and working capital requirements.
Mizuho Securities will manage the Japanese share offering, while Goldman Sachs, Mitsubishi UFJ Morgan Stanley Securities and Morgan Stanley MUFG Securities will assist with investor subscription applications.
