Anthropic slows Q3 growth, faces $1.5T IPO valuation talk - CHOSUNBIZ

Anthropic, which is pursuing an initial public offering (IPO), is falling short of investors' expectations as its revenue growth slows. Among some investors, Anthropic's corporate value is being discussed at about $1.5 trillion (about 2,013 trillion won), 25% lower than the initially expected $2 trillion (about 2,680 trillion won).

Reuters reported this on Oct. 15, citing multiple sources.

Anthropic said at an IPO investor briefing held at its headquarters in San Francisco on the 14th that third-quarter revenue this year was $16.8 billion (about 22.5 trillion won), up 45% from the previous quarter. Adjusted operating profit also stayed in the black for the second straight quarter.

Anthropic's results eased some concerns that massive expense is being poured into developing artificial intelligence (AI), but investors focused on the slowdown in the pace of revenue growth.

Anthropic's first-quarter revenue this year more than doubled from $4.7 billion to $11.6 billion in the second quarter. However, in the third quarter, the revenue growth rate fell to 45%, slowing its growth.

As a result, some investors were said to have discussed the possibility of valuing Anthropic's corporate value at about $1.5 trillion. That is significantly lower than the roughly $2 trillion the market initially expected.

If the market reaction to Anthropic's IPO is lukewarm, it could negatively affect the overall AI market. Investors see Anthropic's listing performance and the IPO of OpenAI, expected next year, as key variables that will shape the short-term outlook for the AI market.

Anthropic initially planned to list in October, but as the schedule slipped, the likelihood of listing after the U.S. midterm elections in November is growing.