Anthropic flags revenue surge to investors ahead of stock market debut
Claude-developer Anthropic reports $16.8bn quarterly revenue ahead of expected stock market listing, while broader tech stocks fall over AI spending worries.
Quick Look
- AI firm Anthropic reported a 45% surge in quarterly revenue to $16.8bn during an investor briefing in San Francisco, amid preparations for an upcoming stock market listing.
- Meanwhile, global tech stocks fell due to growing concerns over heavy AI infrastructure spending.
AI-generated summary
Why It Matters
AI companies are scaling up infrastructure and revenue rapidly while facing investor scrutiny over profitability and spending.
Artificial intelligence (AI) giant Anthropic saw its revenue surge by 45% to $16.8bn (£12.7bn) in the three months to the end of September, the BBC understands.
The figures were reportedly revealed by the Claude-developer as it briefed prospective investors on Wednesday at its headquarters in San Francisco as it lays the groundwork for a stock market listing, which is expected to take place before the end of the year.
It comes as some tech stocks, including firms that make the chips and other hardware that power data centres, have come under pressure over concerns about the large amounts of money being spent on AI infrastructure.
An Anthropic spokesperson declined to comment.
Anthropic's revenue has risen in successive quarters this year, from $4.7bn in the first three months to $11.6bn the following period.
The company also reportedly said that it made a profit for the second quarter in a row.
Its revenue figures, along with those of rival OpenAI, offer an important gauge of the AI industry's growth and ability to finance the infrastructure needed to develop the technology.
Stocks in some US technology companies fell on Wednesday over concerns around investments in AI.
Share in chip makers - including AMD, Nvidia and Intel - fell sharply.
In Asia, shares in Japanese tech investment firm Softbank fell by 9% on Thursday morning. South Korean semiconductor giants were also down, with Samsung falling by 8.4% and SK Hynix dropping by more than 6%.
South Korea's tech-heavy Kospi index was 7.6% lower in morning trading.
The falls come after remarks by Hock Tan, the chief executive of US tech manufacturer Broadcom, over AI spending.
What to Watch
AI outlook — possibilities, not facts
Anthropic stock market listing before end of year
Likely · Within months
Open Questions
- When exactly will Anthropic launch its stock market listing?
- What are the specific details of Anthropic's profitability?
