Dario Amodei’s Anthropic raked in nearly $17 billion in revenue but marked a net loss of over $20 billion in the third quarter, according to an updated SEC filing published Monday ahead of its blockbuster IPO.
The quarterly revenue marked a 12-fold surge compared to the same period one year ago, the filing said. Despite the windfall, Anthropic’s net loss was $23.3 billion – up from $12.1 billion year-over-year.
Dario Amodei’s Anthropic filed to go public last week, setting the stage for what could be the biggest initial public offering on record. AFP via Getty Images
Meanwhile, the company said it has an eye-watering $895 billion in spending commitments tied to compute and AI infrastructure with companies like Amazon and Alphabet-owned Google. About $70 billion of that sum is due by Sept. 2027.
“As our compute and infrastructure capacity grows, the associated compute and infrastructure expenses have increased,” Anthropic said in the filing.
The third-quarter results are particularly important to Wall Street investors who are looking for as many details as possible about the financial outlook for Anthropic. The IPO is expected to take place before Thanksgiving, according to Bloomberg, though the company has yet to confirm any specifics about the timing.
If the expected timing holds, Anthropic will go public during a period of major anxiety related to massive spending by AI competitors, which has helped to spark a recent selloff in the tech sector.
The IPO was initially expected to value Anthropic at up to $2 trillion, though some investors have recently slashed the valuation to about $1.5 trillion, Reuters reported.
Anthropic has said it plans to list on the Nasdaq exchange under the stock ticker “ANT. The filing also confirmed that Anthropic will begin marketing the IPO as soon as Nov. 9.
The company’s S-1 prospectus contains more than 90 pages outlining risk factors associated with Anthropic’s public debut, including warnings that its models have displayed disturbing “self-preserving behaviors” — including resisting attempts to shut them down or even “blackmail.”
Some current and prospective investors are valuing Anthropic at about $1.5 trillion, down from roughly $2 trillion, after the AI startup disclosed financial details at a recent investor event. REUTERS
Anthropic warned that its most advanced AI models could “give rise to novel ethical and safety risks, including risks related to autonomy, manipulation, and the simulation of aspects of human psychology.”
The AI giant also said it is being targeted by spies, including “individuals seeking employment under false identities, or with ulterior or malicious motives.”