Anthropic’s Revenue Surged to $17 Billion in Q3, Swung Back to Operating Loss

Anthropic reported nearly $17 billion in revenue in the third quarter ending September, up 47% from the second quarter, the latest sign that its once red-hot revenue growth rate is slowing ahead of a blockbuster IPO this month.

The AI company reported a $23.3 billion net loss for the quarter, nearly doubling the $12.1 billion net loss in the same period last year, according to an updated filing Monday morning. The company attributed the increase in the loss to $5 billion costs related to securing short-term computing capacity and $2 billion in donations matching those made by employees.

Anthropic swung to an operating loss of $567 million this quarter, after notching $974 million in operating profit in the second quarter.

Excluding stock based compensation and other costs, Anthropic reported $2.5 billion in adjusted operating income.

Anthropic didn’t disclose a run-rate revenue as of the end of October, despite many investors expecting one. It now has $895 billion worth of commitments in compute and data center leases, the filing shows.