Anthropic, the developer of Claude, saw its revenue grow by 45% to $16.8 billion (£12.7 billion) in the three months ending in September, as reported by the BBC. The company disclosed these figures during a meeting with potential investors on Wednesday, as Anthropic prepares for an IPO expected by the end of the year. A company representative declined to comment.
Throughout the year, revenue increased quarter by quarter: from $4.7 billion in the first three months to $11.6 billion in the second quarter. At the event held at its San Francisco headquarters, the company also informed investors that it has been profitable for the second consecutive quarter. The performance of Anthropic and its competitor OpenAI is considered a key benchmark for assessing the growth of the AI industry and its ability to finance the necessary infrastructure.
The news comes amid a decline in shares of several tech companies, including chip and data center equipment manufacturers. Concerns are related to the hundreds of billions of dollars being spent on AI infrastructure. On Wednesday, shares of AMD, Nvidia, and Intel fell significantly. On Thursday in Asia, shares of Japan's SoftBank dropped by more than 9%, Samsung lost 9.5%, and SK Hynix fell by 11%. Trading on South Korean exchanges Kospi and Kosdaq was temporarily halted after indices fell by more than 8%, and Japan's Nikkei 225 lost nearly 5%.
Pressure on the market was intensified by comments from Broadcom CEO Hock Tan. At a conference in Singapore on Monday, he stated that many investors do not understand what is happening and have excessive expectations, likening their behavior to gambling. The decline continued after the release of U.S. inflation data, which showed prices rising faster than expected in September. Investors fear this increases the likelihood of a Federal Reserve rate hike.
Market participants are also concerned about the safety issues of AI models. OpenAI CEO Sam Altman announced in September that the company will not go public this year as it addresses these issues. OpenAI is expected to be valued at over $1 trillion when it lists. Anthropic is also open about AI risks: its CEO Dario Amodei has called for slowing down development. The company continues its global expansion and opened an office in Singapore on Wednesday.
This material is prepared solely for informational purposes and does not constitute financial advice or a recommendation.
Related articles
