Anthropic reports $17 billion in quarterly revenue ahead of IPO

In an update to its filing for a possible public offering, Anthropic reported $17 billion in quarterly revenue, up from $11.5 billion in the previous quarter, according to TechCrunch. The company posted a $567 million operating loss and a $23.3 billion net loss, much of it from an accounting charge related to convertible notes, according to Xataka. Revenue grew 47%, but compute consumed 58% of it, up from 48% in the previous quarter.

Anthropic has accumulated about $895.4 billion in spending commitments, mostly for compute and infrastructure. According to TechCrunch, its compute bill reached $10 billion for the quarter, including $5 billion in short-term commitments that cost significantly more than comparable multiyear agreements. The company attributes the pressure to demand, which forced it to secure additional capacity, while it works to expand its own infrastructure. The prospectus still does not disclose a price range or the number of IPO shares.