Anthropic revenue jumps 1,100 percent ahead of Wall Street listing

Anthropic reported third-quarter revenue of $17bn, up from $1.4bn a year earlier, as the artificial intelligence developer counts down to a stock market listing expected as early as next week, according to CNA.

The figure, disclosed in an amended filing on Monday, represents a rise of more than 1,100 percent. Reuters, in its own account of the quarter, described the loss as shrinking while revenue jumped ahead of what it called a blockbuster IPO.

The same filing put Anthropic's net loss for the July to September period at $23.3bn. Most of that came from non-cash accounting charges linked to the company's rising valuation rather than from operations, CNA reported.

Stripping those charges out, Anthropic recorded an operating loss of $567m for the quarter, after paying more for short-term computing capacity.

The filing also showed the company has committed to spend about $895bn, mostly on computing power, with much of the outlay falling over the next five years.

The debut will be watched as a gauge of how long the AI spending boom lifting the US economy can last. It also widens the pool of potential buyers: retail traders will get their first chance to buy shares directly in a standalone AI giant.

Investor nerves were on display last week, when unease about AI spending set off a sharp sell-off in big technology stocks. The trigger was a round of earnings that showed heavy investment without returns clear enough to satisfy shareholders.

Anthropic's roughly 400-page filing gives more than 90 pages to risk factors. Among them are the hazards facing an industry that has produced a string of reports in recent months of AI systems behaving in unexpected and harmful ways.

All the financial figures come from the company's amended filing. None has been independently verified.

Anthropic is one of the largest developers of artificial intelligence models and competes with other US labs for computing capacity, corporate customers and investors. Its listing would make it the first of that group to trade as a standalone public company.