Anthropic, one of the world’s leading artificial intelligence companies, reported a more than 1,100 percent surge in quarterly revenue as it counts down to its Wall Street listing later this month. Revenue reached $17 billion in the third quarter, up from $1.4 billion a year earlier, though growth slowed from previous quarters amid competition from OpenAI and cheaper models from China.
The San Francisco company, founded in 2021 by former OpenAI researchers, also disclosed nearly $895 billion in spending commitments, mostly for computing power, with $70 billion due before September 2027. Its amended filing reported a net loss of $23.3 billion in the July to September period and an operating loss of $567 million as it paid more for short-term computing capacity.
The listing is seen as a major test of how long the AI spending boom lifting the US economy can last, with reports putting a possible valuation between $1.5 trillion and $2 trillion. Anthropic has also filed for an Australian retail share offer, and its shares are expected to trade on Nasdaq under the ticker “ANT” after the listing closes.
Sources: Malay Mail (AFP), Reuters. Written in our own words for information only.