Anthropic: Revenue Up 12x, Losses Up Too

Anthropic, the company behind the Claude models, revised its IPO filing (an initial public offering, when a company first sells its shares to the general public). Third-quarter revenue came in at almost $17 billion. That is twelve times more than a year earlier. But the company spent $17.5 billion in the same quarter. That included $5 billion on a rushed purchase of computing infrastructure. Anthropic ended the third quarter with a net loss of $23.3 billion. A year earlier, the loss for the same period was $12.1 billion. In the revised IPO documents, the company said it plans to spend $895 billion on data centers and computing resources.

Even the revenue leader among AI companies is not turning a profit. Large compute buildouts take years to pay off. That does not seem to be cooling enthusiasm for these massive pre-IPO funding rounds.