Anthropic reported a 45% surge in quarterly revenue to $16.8 billion in the three months ending September, the BBC understands, as the AI company briefs prospective investors ahead of an expected stock market listing before year's end.
The revenue figures mark continued acceleration for the Claude-developer. Anthropic generated $4.7 billion in the first quarter of the year, $11.6 billion in the second quarter, and $16.8 billion in the third quarter. The company also reported profitability for the second consecutive quarter, according to the briefing at its San Francisco headquarters on Wednesday.
Anthropic declined to comment on the figures.
The disclosure comes as broader tech stocks tumbled on concerns about AI spending intensity. Shares in chip makers Nvidia, AMD and Intel fell sharply on Wednesday. In Asia on Thursday, SoftBank dropped more than 9%, while Samsung fell 9.4% and SK Hynix declined 10.8%. South Korea's Kospi and Kosdaq indexes each fell more than 8% before trading halted temporarily. Japan's Nikkei 225 fell over 5%.
The selloff accelerated after Hock Tan, CEO of chip manufacturer Broadcom, said on Monday that many investors have "no clue" and set "extreme expectations only to find out that it's almost like they are in a casino." US inflation data released Wednesday showed price rises accelerated more than expected in September, raising expectations the Federal Reserve will increase borrowing costs.
Anthropic's results and those of rival OpenAI serve as key gauges of AI industry growth and the sector's ability to finance infrastructure needed for technology development. OpenAI chief executive Sam Altman said in September his company will not go public this year as it addresses safety concerns about the technology. Anthropic has also emphasized AI risks, with CEO Dario Amodei calling for a slowdown in development pace.
The company opened a Singapore office on Wednesday as part of global expansion.