Anthropic reported that its third-quarter revenue rose to $17 billion, more than twelve times the figure from the same period a year earlier. The artificial intelligence company’s net loss for the quarter was $23 billion.
The figures were released a week after Anthropic filed documents related to a public offering. While the company had already disclosed much of its financial information in a prospectus last month, that filing largely covered the first six months of the year. The latest results offer investors a more recent view of the company’s rapidly changing financial position.
Anthropic’s revenue increased 47 percent from the second quarter, a slower pace than the 144 percent growth recorded between the first and second quarters. The company had previewed some of its third-quarter figures during a private presentation at its San Francisco headquarters last month, disappointing some investors.
For the first nine months of the year, Anthropic reported $33 billion in revenue and a $104 billion net loss. The loss included a one-time $94 billion accounting charge tied to convertible notes, which can later be converted into equity. Excluding certain costs, the company’s operating loss for the period was $693 million.
The anticipated offering could value Anthropic at as much as $2 trillion and potentially raise $100 billion, although the company has warned that such proceeds may still be insufficient to meet its infrastructure requirements. Investors will have to assess whether the company’s revenue growth can keep pace with its spending commitments.
Anthropic’s expected offering comes as technology companies face increasing scrutiny over the billions of dollars being spent on infrastructure for artificial intelligence systems. The pressure has grown as companies turn more frequently to debt markets to finance those investments, creating greater risks if demand for A.I. services falls short of expectations.
If completed successfully, Anthropic’s listing would be the second major I.P.O. of the year after SpaceX’s June offering. OpenAI is also pursuing a valuation of more than $1 trillion in a potential offering that could take place next year.
Sources: The New York Times Business.