Anthropic reported nearly $17 billion in quarterly revenue, twelve times its revenue a year earlier, according to Bloomberg. But costs outpaced sales ahead of the company’s planned IPO. Its net loss reached $23.3 billion, up from $12.1 billion a year ago.
Operating costs totaled $17.5 billion, according to The Information. That wiped out the profit Anthropic had reported in the previous quarter and put the company back in an operating loss.
Compute and donation costs rose
Anthropic identified two main reasons for the cost increase. It spent $5 billion locking in short-term compute capacity and $2 billion on employee donation matching.
The company has faced a shortage of compute capacity since late last year. It has since signed dozens of deals with Amazon, Google, SpaceX, chipmakers and former crypto miners, according to the New York Times.
Read nextSK hynix reports record third-quarter revenue and ends Solidigm IPO reviewAnthropic expects access to more than 3.5 gigawatts of power this year. Its updated prospectus also lists $895 billion in commitments for compute and data center leases. Those commitments add pressure to the company’s planned IPO.
The IPO could raise around $100 billion, the New York Times reports. Up to $3.5 billion of that is expected to come from Japanese investors. Anthropic plans to double its access to power next year.
