Anthropic's Amended IPO Filing Shows $17 Billion Q3 Revenue and $23 Billion Net Loss

Anthropic reported third-quarter revenue of about $17 billion and a net loss of $23.29 billion in an amended IPO filing with the Securities and Exchange Commission on Monday. Revenue was $16.96 billion for the three months ended Sept. 30, up from $11.56 billion in the second quarter and 12 times the level of a year earlier. The net loss narrowed from $66.3 billion in the second quarter. Anthropic posted a $567 million operating loss in the third quarter, versus $974 million of operating income in the second. For the first nine months of the year, revenue was $33.24 billion, up roughly 1,200%, and the net loss was $104 billion, mostly from changes in the fair value of convertible notes and derivative liabilities. The filing lists about $895.4 billion in computing-related spending commitments with partners including Amazon and Google. The initial prospectus, filed last week, covered only the first half of the year. Some investors value the company at about $1.5 trillion, down from roughly $2 trillion, Reuters has reported. The company is preparing for its road show amid market worries over AI spending and rising interest rates.

The right-leaning New York Post headlines the $23 billion loss and names CEO Dario Amodei. It stresses the sharp narrowing from the prior quarter, the swing to an operating loss, the $895.4 billion in commitments and the cut in investor valuation. The left-leaning New York Times headlines surging revenue as the IPO nears and gives the 12-times year-over-year growth, with the $23 billion loss as a secondary figure. The two agree on the core numbers and the filing. They differ in what comes first: the Post puts the loss and valuation drop up front, while the Times puts growth up front. Alternative outlets largely track the Post's figures, but CNBC adds the nine-month results and market jitters over rising rates and hyperscaler spending, while Reuters stresses the shrinking loss.