Anthropic told prospective investors on Wednesday that revenue in the third quarter surged 45% from the prior quarter, two people who attended an investor day said, a move that could assuage market concerns about the huge costs of developing AI systems.

Revenue in the third quarter rose to $16.8 billion from $11.6 billion in the second quarter and $4.7 billion in the first quarter, the people said. Anthropic told the group the company was profitable on an adjusted basis in the third quarter, they added.

The meeting in San Francisco was meant to familiarise prospective Anthropic investors with the company before its highly anticipated IPO.

The IPO is expected to precede a public listing by rival OpenAI, making Anthropic an early test of investor appetite for heavily unprofitable AI developers pursuing massive scale. Its public-market debut is likely to be pushed until after the November US midterm elections, Reuters has reported.

Attendees at Wednesday's event met with Anthropic CEO Dario Amodei and Chief Financial Officer Krishna Rao and came away optimistic about the company's rapid revenue growth and path to profitability, a few of them told Reuters as they left its headquarters in the evening.

Amodei reiterated the company’s focus on AI safety but avoided mentioning threats of human extinction, one person in the group said. In its prospectus seen by Reuters last month, Anthropic warned that advanced AI could pose "catastrophic or existential risks to humanity."

On Wednesday, however, Anthropic executives talked about how the company was using its AI to help its own business, including designing a custom chip.

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