Anthropic says revenue surged 1,100pc ahead of IPO

Anthropic, one of the world's leading artificial intelligence companies, on Monday reported a more than 1,100 percent surge in quarterly revenue and nearly US$900 billion in spending commitments as it counts down to its Wall Street listing later this month. The San Francisco-based company was founded in 2021 by former OpenAI researchers led by chief executive Dario Amodei and his sister Daniela, now its president, with AI safety as its focus. The listing comes amid growing nervousness among investors about the huge sums being poured into AI. Revenue reached US$17 billion in the third quarter, up from US$1.4 billion a year earlier, though sales growth slowed from previous quarters amid fierce competition from ChatGPT-maker OpenAI and cheaper models. The company, whose stock market debut is seen as a gauge of how long the AI spending boom lifting the US economy can last, said in an amended filing that its net loss reached US$23.3 billion in the July-September period. The loss stemmed mostly from non-cash accounting charges linked to the company's rising valuation, the filing showed. Anthropic also posted an operating loss of US$567 million in the third quarter as it paid more for short-term computing capacity. The filing said the company has committed to spend about US$895...