Tech & AI
Anthropic files amended IPO papers showing steep revenue growth
Anthropic's amended IPO filing shows third-quarter revenue of $16.95 billion, up 1,127% from a year earlier, a rare look at what an AI model maker earns.
Quick Read
- Anthropic's amended IPO filing showed third-quarter revenue of $16.95 billion, up 1,127% from a year earlier.
- The company has applied to list on Nasdaq under the proposed ticker ANT.
- Business customers drive the growth; the cost of computing power remains the main open question.
- Nvidia's quarterly results on Nov. 17 are the next scheduled read on AI chip demand.
What did Anthropic's filing show?
Anthropic reported $16.95 billion in third-quarter revenue in an amended IPO filing dated Nov. 2. That was up 1,127% from a year earlier.
Why it matters: An IPO, or initial public offering, is a company's first sale of shares to the public. Anthropic has applied to list on Nasdaq under the proposed ticker ANT.
What is driving the growth?
Business customers are the engine. The filing showed a large roster of companies spending heavily with Anthropic, and existing clients sharply raising what they spend.
Many of its biggest customers now use both the Claude platform and an Anthropic app such as Claude Code or Cowork, the filing said.
Fiscal.ai said in a Nov. 1 analysis that Anthropic's annual gross profit, meaning revenue minus the direct cost of delivering it, reached a level that took Nvidia (Nasdaq: NVDA), Microsoft and Apple (Nasdaq: AAPL) far longer. Anthropic was founded in 2021. Fiscal.ai credited fixed per-token pricing and falling processing costs.
Why does it matter for chip stocks?
Model makers such as Anthropic spend heavily on computing power. The cost of that computing remains a major hurdle for the company as it heads toward public markets.
Tech shares fell Monday. Nvidia slid 1.3% to $202.06, then rose 0.9% in trading after the regular close. The technology sector fund fell 2.9%, and the Nasdaq-100 lost 1.4%.
Yorkville Ives analyst Dan Ives said in a note that the AI trade may still be early. He named Nvidia as his top chip pick.
What comes next?
What’s next: The question is whether Anthropic can keep growing while turning demand into lasting cash. Nvidia's quarterly results on Nov. 17 may show whether spending on AI chips is still climbing.
For readers
What it could mean for you: If you own a technology sector fund, Anthropic's filing offers a window into the demand behind the chipmakers it holds. AI model makers spend heavily on computing power, and that spending flows to chip companies such as Nvidia. A tech fund concentrates on that one industry, so AI news could move it more than a broad index fund; on Monday it slid 2.9%. Nvidia's results on Nov. 17 may show whether that spending is still growing.
Questions and answers
When is the Anthropic IPO?
Anthropic filed amended IPO papers on Nov. 2 and has applied to list on Nasdaq under the proposed ticker ANT.
How much revenue does Anthropic make?
Anthropic reported $16.95 billion in third-quarter revenue in its amended IPO filing. That was up 1,127% from a year earlier.
What does Anthropic's IPO mean for Nvidia?
Anthropic spends heavily on computing power, part of the demand behind chipmakers such as Nvidia. Fiscal.ai said Anthropic reached a level of annual gross profit that took Nvidia far longer to hit.
The numbers
| Nvidia (NVDA) price | $202.06 |
|---|---|
| Nvidia (NVDA) change | −1.26% |
| Nvidia (NVDA) market value | $4.9 trillion |
| Nvidia (NVDA) 52-week high | $239.24 |
| Apple (AAPL) price | $338.32 |
| Apple (AAPL) change | −1.83% |
| Apple (AAPL) market value | $4.9 trillion |
| Apple (AAPL) 52-week high | $348.91 |
| S&P 500 change | −0.51% |
| 10-year Treasury yield | 4.91% |
Monday’s close
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Not investment advice.
