SAN FRANCISCO: Anthropic’s revenue rose by around 50% to $16.8 billion in the September quarter, while the artificial intelligence company reported adjusted profitability over the previous six months, according to US media reports.
The company is preparing for a potential initial public offering (IPO) that could value it at $2 trillion.
The San Francisco-based AI lab is reportedly targeting an IPO in November, after the US midterm elections. If successful, the offering could surpass SpaceX’s reported $1.8 trillion valuation when it debuted in June.
Anthropic Shares Financial Updates With Investors
Anthropic held a private meeting with investors at its San Francisco headquarters on Wednesday, according to reports by the Financial Times and Bloomberg.
An investor presentation included updates on the company’s financial performance. The figures were calculated on an adjusted basis, which excludes certain costs and is commonly used by companies to present their underlying performance.
Anthropic told investors it had generated positive free cash flow and achieved an adjusted operating margin of 11% in the third quarter.
However, previous reports said the company recorded a net loss of $42 billion last year. Anthropic also reportedly believes it is pursuing a market worth $30 trillion.
Revenue Growth Puts Anthropic Ahead of OpenAI
Anthropic’s annualised revenue reached $65 billion earlier this year and could rise to $100 billion by the end of 2026, The New York Times reported.
That figure would exceed the $50 billion annualised revenue reported for its main rival, OpenAI, according to Axios last week.
Annualised revenue estimates project a company’s future revenue based on its current sales pace. However, Anthropic and OpenAI use different methods to calculate these figures, making direct comparisons difficult.
Anthropic develops AI models and products under its flagship Claude brand. OpenAI, meanwhile, operates ChatGPT, one of the most widely used AI chatbots.
OpenAI has reportedly pushed its own IPO plans back to 2027, while Anthropic is moving towards a potential listing later this year.
The proposed $2 trillion valuation would place Anthropic among the world’s most highly valued companies, although its final IPO valuation will depend on market conditions and investor demand.
