Anthropic's Revenue Rises to $16.8 Billion Ahead of IPO

The startup Anthropic, developer of the Claude model, reported a 50% increase in revenue for the third quarter to $16.8 billion. The company's valuation stands at $965 billion. In the third quarter, revenue increased from $11.5 billion in the second quarter and $4.8 billion in the first. The annual revenue run rate reached approximately $74 billion. Despite the growth, the rates fell short of investor expectations, which had forecasted exceeding $100 billion by the end of the year. The company generates positive cash flow: for every $1 spent on computing resources, it earns $1.70 in revenue, with an adjusted operating margin of 11%. However, the business faces macroeconomic pressures, high competition, and declining demand from major clients such as Meta and Microsoft. CEO Dario Amodei and CFO Krishna Rao noted that profitability parameters may change due to investments in computing resources. In an early version of the S-1 form for the IPO, nearly a third of the document is dedicated to risks, including the possibility of unpredictable behavior of the systems. Anthropic warned investors of a potential existential threat from the technology being developed.

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