Anthropic says revenue jumped to nearly $17 billion last quarter
AI company Anthropic reported a 50% revenue jump to $16.8 billion in the September quarter and announced it is profitable on an adjusted basis. The company is preparing for a major IPO in November, aiming for a $2 trillion valuation.
Why it matters
Anthropic's rapid growth and massive valuation targets signal the intense capital competition and market expansion within the generative AI sector.
Anthropic told investors on Wednesday that its revenue jumped around 50 percent to $16.8 billion in the September quarter and that it was profitable on an adjusted basis during the previous six months, according to US media reports.
The San Francisco-based artificial intelligence (AI) company is barreling towards a highly anticipated initial public offering where it is expected to seek a $2 trillion valuation , beating SpaceX's record-setting $1.8 trillion valuation when it debuted in June.
Anthropic is reportedly aiming to hold its IPO in November, after the US midterm elections.
The company held a private meeting on Wednesday with investors at its headquarters in San Francisco, according to the Financial Times and Bloomberg which reported details from the meeting.
An investor presentation included updates about the company's finances which were calculated on an adjusted basis; a method commonly used by companies that excludes certain costs.
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