Anthropic plans to disclose its third-quarter financial results for the first time during a meeting with potential investors on Wednesday, as the artificial intelligence giant prepares for what could be the largest IPO in history.
San Francisco-based Anthropic will report the figures to a group of institutional investors, according to two people familiar with the matter, who asked not to be named because the details were confidential.
Bloomberg first reported that the meeting was taking place. Anthropic declined to comment.
The meeting comes as revenue figures from private AI giants have proven to have an outsized impact on broader markets.
Last week, confusion around a report detailing OpenAIThe earnings and updated accounting dragged down major semiconductor stocks and the Nasdaq as a whole.
OpenAI shared an updated revenue figure of $50 billion with current investors as part of an ongoing fundraising round, which was lower than the widely reported $70 billion. The updated figure removed revenue from cloud partners and was not an indication of changing demand, according to a person familiar with the matter who asked not to be named in order to discuss internal information.
It’s unclear whether Anthropic will account for sales in the same way and include partner revenue, but this week’s numbers will give investors a clearer look at Anthropic’s growth and profitability as they look to value the company ahead of an IPO. It will also help Anthropic’s senior executives and bankers gauge investor interest and gauge reaction to this updated financial data.
Anthropic is pursuing what could amount to a $2 trillion listing based on its latest reported revenue figures, which could exceed $100 billion by the end of this year, according to people familiar with the matter.
This valuation would place it ahead EspaceXthe historical beginnings of.
Anthropic filed confidentially with the Securities and Exchange Commission earlier this year, but has not made its S-1 financial statements public. The company will list in November, according to Reuters, but people familiar with the matter could not confirm a listing date. If this comes to fruition, Anthropic will also list at a time when rising interest rates are undermining some of the AI business.
Comments from Broadcom This week, CEO Hock Tan shook up the AI names again. Tan told a conference on Monday that with rates rising, access to capital could be the biggest constraint for AI companies.
Chip stocks were lower on Tuesday, extending an overnight sell-off sparked by concerns about the sustainability of AI funding.
Market conditions are one of the most important factors in Anthropic’s upcoming IPO, and bankers are closely monitoring investor appetite for growth and AI stocks.
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