CONNECT WITH US
AI & Deeptech

AI & Deeptech

Anthropic grows revenue twelvefold but posts $23 billion loss

The Decoder logo

Published on

Add as a preferred source on Google
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.



Source link
Related Topics:AI & Deeptech

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We TheMorningPulse.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It's possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.