Anthropic grows revenue twelvefold but posts $23 billion loss
Anthropic swings back to an operating loss ahead of its blockbuster IPO. According to Bloomberg, the company posted quarterly revenue of nearly $17 billion , twelve times what it brought in a year earlier. But operating costs of $17.5 billion outpaced that revenue, wiping out the profit Anthropic had reported the previous quarter, according to The Information . The net loss came in at $23.3 billion for the quarter, up from $12.1 billion a year ago.
Anthropic pointed to two main drivers behind the cost spike: $5 billion for short-term compute capacity it locked in and $2 billion in employee donation matching. The company has been grappling with a compute crunch since late last year. According to the New York Times, it has since signed dozens of deals with Amazon, Google, SpaceX, chipmakers, and former crypto miners. Anthropic is expected to have access to more than 3.5 gigawatts of power this year and plans to double that next year.
All told, the company's updated prospectus shows $895 billion in commitments for compute and data center leases. Those costs add pressure on the IPO, which could raise around $100 billion, the New York Times reports. Up to $3.5 billion of that is expected to come from Japanese investors . Ad Ad
AI News Without the Hype – Curated by Humans
Subscribe to THE DECODER for ad-free reading, a weekly AI newsletter, our exclusive "AI Radar" frontier report six times a year, full archive access, and access to our comment section.