AI giant Anthropic woos potential investors ahead of stock market debut — SkimNews
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- Anthropic held an investor event at its San Francisco headquarters ahead of an expected stock market listing, reporting Q3 revenue surged 45% to $16.8bn and an adjusted-basis quarterly profit — a metric that excludes non-recurring costs
- Anthropic's revenue has climbed every quarter this year, from $4.7bn in Q1 to $11.6bn in Q2 to $16.8bn in Q3, with attendees leaving the event reportedly optimistic about its growth and path to profitability
- Anthropic leaned into AI safety messaging at the event, with CEO Dario Amodei calling for slower development, after one of its researchers warned in September of a greater than 10% chance AI could "kill all humans" within a decade
- Anthropic said in September it had disrupted attempts to use its AI model to support biological weapons development, while rival OpenAI's CEO Sam Altman said the same month his firm will not go public this year despite eyeing a listing valued above $1tn
- Chip stocks Nvidia, AMD, and Intel fell sharply on Wednesday over AI-spending concerns, with Softbank down more than 9% in Asia on Thursday, Samsung falling 9.5%, and SK Hynix dropping 11%
- Broadcom CEO Hock Tan told a Singapore conference on Monday that many investors "have no clue" and have set "extreme expectations only to find out that it's almost like they are in a casino"
- Donald Trump dismissed researcher warnings about AI risks as "bringing up things that won't happen," arguing in the US-China race that "whoever wins AI, wins"
Why it matters: Anthropic's $16.8bn quarterly revenue and adjusted-basis profit are its pitch that AI labs can self-fund their infrastructure buildout — but the same week, Nvidia, AMD, and Intel sold off after Broadcom's Hock Tan told investors they're acting like they're "in a casino," and September inflation data reinforced expectations of higher borrowing costs.
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