Anthropic tells prospective investors its third quarter revenue rose 45% to $16.8 billion and that it was profitable on an adjusted basis
Anthropic revenue jumps to $16.8bn in third quarter
Context
These are the first detailed financials from a leading AI lab heading toward an IPO, and they test the argument that frontier AI can earn back its huge costs.
This is a news report: the FT first reported the figures, citing what Anthropic told investors at its October 14 investor day, which the October 13 deck covered in advance. Reuters, Bloomberg and CNBC confirmed the numbers through people familiar or attendees, and Anthropic has not published them. Adjusted profit is a company measure, not standard accounting profit.
- Financial Times: Anthropic revenue jumps to $16.8bn in third quarter
- unusual_whales on X: Anthropic says it was profitable in the third quarter
- AndrewCurran_ on X: third quarter revenue rose 45%
- Reuters via Investing.com: Anthropic's Q3 revenue surges 45% to nearly $17 billion
- CNBC: Anthropic's Q3 revenue is said to hit $16.8 billion ahead of IPO
- Bloomberg: Anthropic revenue jumps to $16.8 billion in quarter before IPO
Deep dive
On October 14, the Financial Times posted: Anthropic revenue jumps to $16.8bn in third quarter. The FT reported that Anthropic told investors the company was profitable in the quarter as it seeks support for a public listing amid concern about the AI trade.
Reuters, citing two people who attended the investor day at Anthropic's San Francisco headquarters, reported that revenue rose 45% from $11.6 billion in the second quarter and $4.7 billion in the first, and that Anthropic said it was profitable on an adjusted basis. Attendees met CEO Dario Amodei and CFO Krishna Rao, Reuters said.
CNBC reported that Anthropic also told investors it was cash flow positive, generating $1.70 in revenue for every dollar spent on computing in the quarter, according to the FT. CNBC said the IPO is reportedly slated for November and cited The Wall Street Journal as saying investors expect $110 billion in annualized revenue by year end.
Unusual Whales relayed the FT report, and AI commentator Andrew Curran posted the quarterly figures as attendees began reporting them. The October 13 deck covered the reports that the investor day was coming.
What to expect next
Watch for Anthropic's IPO filing, which would give audited figures and show how adjusted profit is defined and what is excluded.
Also watch whether growth of this pace continues into the fourth quarter, how investors value the company against OpenAI, and whether the numbers ease wider market worries about AI spending ahead of the reported November listing date. The FT, Reuters and Bloomberg will likely report more as the filing nears.