Anthropic Q3 revenue surges 45% to $16.8B ahead of expected IPO: report
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Anthropic (ANTHRO) reportedly told investors its third-quarter revenue stands at $16.8B as it prepares for a highly anticipated initial public offering expected in November.
The company also told investors it was cash-flow positive, generating $1.70 in revenue for every dollar spent on computing power during the third quarter, according to the Financial Times. Investors expect Anthropic to reach $110B in annualized revenue by year-end, according to The Wall Street Journal.
Anthropic executives told a roomful of investors on Wednesday that the company’s revenue for the third quarter jumped about 45% from the prior quarter to $16.8B, as it pursues what may become the largest-ever initial public offering. OpenAI (OPENAI) meanwhile, is said to be expecting to reach or exceed $70B in annualized revenue by the end of the year.
The artificial intelligence giant, which makes the Claude chatbot, could aim to raise more than $100B in a public listing, its bankers have said, as per reports. That could value Anthropic at $2T.
The company also said it was profitable after making certain adjustments, which is not a bottom-line number. And it said its gross margin, or revenue minus direct costs associated with generating that revenue, was 85% after making certain adjustments.
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