Anthropic Files Amended Registration Statement... Net Loss Narrows 65%

Operating Results Swing Back to a Loss

Anthropic, an artificial intelligence (AI) company pursuing an initial public offering (IPO) this month, saw its revenue in the third quarter of this year surge more than 12-fold year over year, while its net loss narrowed to about one-third of the previous quarter's level. However, as the burden of investment in AI infrastructure grew, it swung back to an operating loss.

Anthropic said in an amended registration statement filed with the U.S. Securities and Exchange Commission (SEC) on November 2 (local time) that its third-quarter revenue totaled $16.962 billion (approximately KRW 22.8 trillion). This was up 1,127% from the same period a year earlier and 46.7% from the previous quarter's $11.56 billion.

Net loss for the same period totaled $23.29 billion. This was down 64.9% from the previous quarter's net loss of $66.3 billion.

However, most of the net loss was an accounting loss that did not involve an actual cash outflow. Of the third-quarter net loss, $21.9 billion was a valuation loss reflecting changes in the fair value of financial instruments, including convertible bonds. Excluding this, the net loss was approximately $1.4 billion.

Anthropic swung to an operating loss. It recorded operating income of $974 million in the second quarter, but posted an operating loss of $567 million in the third quarter. This was due to a sharp increase in infrastructure costs, including computing resources and data centers needed to operate AI models.

Anthropic emphasized that revenue growth was outpacing the rise in infrastructure costs. The company said, "Third-quarter revenue increased 1,127% year over year, while computing and infrastructure costs rose by only 382%," adding that the computing efficiency of its AI models was improving.

However, the financial burden of future investment in AI infrastructure is expected to be substantial. As of the end of September, Anthropic's future spending under purchase and lease commitments for AI computing and data center infrastructure totaled $895.4 billion. Of this, $447.5 billion is payable by the end of 2030. Payments coming due within the next 12 months also total $69.8 billion.

Meanwhile, Anthropic filed an IPO registration statement with the SEC on October 26, officially beginning the listing process. It is pursuing a Nasdaq listing this month, with the ticker symbol "ANT."

Investment industry sources value Anthropic at approximately $1.5 trillion for its IPO. This is close to the $1.8 trillion valuation of SpaceX when it went public in June.

This content was produced with the assistance of AI translation services.