Anthropic reported quarterly revenue of $16.8 billion in the three months ending September, a 45% jump from the prior quarter, as the AI company courts investors ahead of an expected stock market debut. Revenue has accelerated across successive quarters this year, rising from $4.7 billion in Q1 to $11.6 billion in Q2. The company told investors at its San Francisco headquarters that it achieved adjusted profitability in the third quarter, using an accounting method that excludes non-recurring costs. Attendees reportedly left the event optimistic about Anthropic's growth trajectory and path to sustained profit.
Anthropic has positioned itself as capable of generating substantial returns despite massive spending on computing infrastructure, a claim central to investor confidence in the AI sector. Rival OpenAI, which also plans a major public listing expected to value the company above $1 trillion, has flagged similar ambitions while citing safety concerns as reason to delay going public this year.
The company has also emphasised commitment to AI safety. Chief Executive Dario Amodei has called for development to slow, and in September Anthropic identified and disrupted attempts to use its AI model for malicious activity that could support biological weapons development. A company researcher warned of greater than 10% probability that AI could "kill all humans" within a decade. Former researchers have said people working on the technology are "genuinely frightened" about the pace of advancement. President Donald Trump countered that researchers are "bringing up things that won't happen" and framed AI development as a race with China.
Anthropic's revenue surge carries weight beyond the company itself. The figures are "an important gauge of the AI industry's growth and ability to finance the infrastructure needed to develop the technology," according to the BBC. Market sentiment on that infrastructure has shifted sharply. Broadcom CEO Hock Tan said at a Singapore conference Monday that many investors have "no clue" and harbour "extreme expectations only to find out that it's almost like they are in a casino." US technology stocks fell sharply on Wednesday, with chip makers AMD, Nvidia and Intel all declining. Shares in Asian tech companies also dropped, including Softbank down more than 9%, Samsung down 9.5%, and SK Hynix down 11%. Falls deepened after US inflation data Wednesday showed price rises accelerated more than expected in September, raising odds the Federal Reserve will raise borrowing costs.