Report: Anthropic Q3 revenue reached 16.8 billion USD, a quarter-on-quarter increase of 46%, with adjusted profits and positive cash flow achieved

Anthropic disclosed to investors that the company's revenue for the third quarter reached $16.8 billion, achieving quarterly profitability, generating significant buzz for the artificial intelligence startup's highly anticipated IPO. Meanwhile, the investment sentiment in the AI sector is facing challenges.

According to the Financial Times, on Wednesday, Anthropic held an all-day investor briefing at its headquarters in San Francisco, where the executive team focused on articulating the company's safety-first philosophy, rapid growth trajectory, and efficiency improvements, seeking support for the IPO expected to launch in November.

It is reported that Anthropic's quarterly revenue increased nearly 50% compared to the $11.5 billion in the second quarter, and the company also stated that it has achieved profitability on an adjusted basis and generated positive cash flow.

The macro pressures on AI infrastructure spending and concerns over technological risks are causing investors to face significant uncertainties when valuing Anthropic. U.S. chip stocks fell sharply on Wednesday due to rising inflation data and market concerns about the scale of AI financing.

Rapid Revenue Growth and Adjusted Profitability

Data disclosed by Anthropic to investors shows that third-quarter revenue reached $16.8 billion, with a nearly 50% quarter-over-quarter increase, a significant jump from $11.5 billion in the second quarter. The company stated that it has achieved profitability on an adjusted basis and recorded positive cash flow.

Chips and data centers are the main cost expenditure items for Anthropic, and this infrastructure is essential for AI labs to train and run models. In the context of rapid revenue expansion, whether the company can control this core cost will be a focal point of ongoing investor attention.

The annualized revenue data of Anthropic compared to its competitor OpenAI is viewed by the market as a key indicator of the growth momentum in the AI industry and its ongoing infrastructure expansion capabilities.

Risks Behind the Highest Valuation IPO Expectations

Anthropic, the developer of the Claude series models, is widely expected to achieve a record high valuation for its IPO. However, the road to the capital markets is not smooth.

It is reported that in the early S-1 draft prospectus circulated to some investors last month, nearly one-third of the content was dedicated to disclosing "risk factors," including the potential for AI models to exhibit unpredictable malicious behavior.

The company warned investors in the document that its technology could pose "existential risks to humanity."

In recent months, multiple incidents of AI models being hacked and exhibiting abnormal behavior have come to light, coupled with escalating warnings about the risks of AI technology in the industry, making investors more cautious in valuing the company.

Intensifying Competition and Macroeconomic Headwinds Create Dual Pressure

Market concerns about Anthropic extend beyond technological risks. Wall Street also needs to clarify a more fundamental business question: Can Anthropic maintain its current rapid growth pace in the face of ongoing pressure from competitors like OpenAI and Meta?

At the same time, rising interest rates and tightening macroeconomic conditions may constrain the company's infrastructure and computing investment plans exceeding $500 billion over the next decade.

On Wednesday, U.S. chip stocks experienced a noticeable decline due to dual impacts from inflation concerns and external doubts about the scale of debt financing in the AI boom, reflecting the fragility of market sentiment.