Anthropic, the company behind Claude, yesterday filed an updated version of its IPO prospectus (S-1) with third-quarter figures. According to Bloomberg and CNBC, revenue in the quarter ended in September reached nearly $17 billion, compared with just $1.4 billion a year earlier, growth of about 12-fold.
$895 billion in commitments
The figure drawing the most attention: according to the filing, Anthropic has committed to spend more than $895 billion in the coming years, mainly on computing power. According to Yahoo Finance, about $70 billion of that comes due within a year, and the total is nearly seven times the company's cash and short-term investments, about $132 billion at the end of September.
From profit to loss
After recording its first operating profit of $974 million in the second quarter, Anthropic returned to an operating loss of $567 million in the third. Rapidly growing computing costs are the main reason. The original prospectus, filed October 26, included only first-half figures.
What it means for investors
The picture is of a company growing at an unprecedented pace but also betting big that growth will continue. In a week when the market punished companies for heavy AI spending, and with reports that OpenAI cut its fundraising target, Anthropic's IPO will be a key test of investor appetite.
