Anthropic to disclose new revenue numbers as AI lab financials become central to tech trade
Anthropic will release updated financials to a group of investors gathering at its headquarters this week, according to people familiar with the matter.
Key points
- Anthropic will disclose third-quarter financials to potential investors on Wednesday.
- The company is preparing for an IPO that could value it at $2 trillion.
- Recent revenue confusion at OpenAI hurt semiconductor stocks and the Nasdaq.
Anthropic plans to disclose its third-quarter financials for the first time at a meeting with potential investors on Wednesday, according to two people familiar with the matter. The San Francisco-based AI company is preparing for what could be the largest initial public offering in history.
Bloomberg first reported the meeting. Anthropic declined to comment. The company filed confidentially with the Securities and Exchange Commission earlier this year but has not made its S-1 financials public.
Revenue numbers sway markets
The meeting comes as revenue figures from private AI giants have had an outsized impact on broader markets. Last week, confusion over a report on OpenAI's revenue and updated accounting dragged down major semiconductor stocks and the Nasdaq.
OpenAI told current investors its updated revenue was $50 billion, lower than the $70 billion widely reported. The figure excluded revenue from cloud partners and did not signal changing demand, according to a person familiar with the matter.
access to capital could be the biggest constraint on AI companies
— Broadcom CEO Hock Tan
IPO plans and market conditions
Anthropic is pursuing an IPO that could value it at $2 trillion based on its latest reported revenue, which people familiar with the plans said could top $100 billion by the end of this year. That valuation would exceed SpaceX's historic debut.
Reuters reported the company will list in November, but people familiar with the plans could not confirm a listing date. Market conditions are a major factor, and bankers are watching investor appetite for growth and AI stocks. Broadcom CEO Hock Tan said on Monday that with rates climbing, access to capital could be the biggest constraint on AI companies. Chip stocks fell Tuesday, extending an overnight sell-off over AI financing worries.
