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Anthropic's amended IPO filing shows $23.3 billion third-quarter loss

Revenue rose 12-fold from a year earlier, the filing says, while commitments for computing and AI infrastructure total about $895 billion.

3 news outlets reported this
Liberal1 outletWhat each Anthropic worker costs the companyCenter1 outlet$17 billion revenue alongside $900 billion in commitmentsConservative1 outletA $23 billion loss and huge spending commitments
Published 3 min read
Overview

Anthropic released an amended filing on Monday ahead of its planned initial public offering. It covers the third quarter. Revenue rose 12-fold from the same period a year earlier, the New York Post reports, citing the filing.

Even so, the net loss grew to $23.3 billion. Anthropic also disclosed commitments of about $895 billion for computing and AI infrastructure, with companies such as Amazon and Alphabet-owned Google. Anthropic said its infrastructure expenses have increased as its capacity has grown.

Business Insider reports that stock-based pay was the largest part of the company's personnel costs in the quarter. Anthropic plans to list on the Nasdaq under the ticker ANT. The filing says the company's marketing push for the offering will start as soon as Nov. 9.

Bloomberg reported that the listing is expected before Thanksgiving, but the company has not confirmed the timing. Reuters reported that some investors have lowered the valuation they expect from the original estimate. The prospectus warns that Anthropic's models have displayed "self-preserving behaviors," and it says the company is being targeted by spies.

Key figures
  • $17 billion Anthropic's third-quarter revenue, per Forbes — Forbes
  • $23.3 billion third-quarter net loss, up from $12.1 billion a year earlier — New York Post
  • $895 billion spending commitments for compute and AI infrastructure, per the filing — New York Post
  • $1.7 billion third-quarter personnel expenses — Business Insider
  • 5,300 Anthropic workers, per the IPO filing — Business Insider

Three sides of the story

Liberal1 outlet

What each Anthropic worker costs the company

Business Insider leads with pay. Its headline says personnel costs ran above $100,000 a month per employee. The outlet reports that quarterly personnel expenses topped $1.7 billion for 5,300 workers, averaging over $322,000 each, and that $1.1 billion of the total was stock-based compensation.

Over nine months, personnel costs came to $4.8 billion, or 15% of revenue, while in 2023 they were more than twice revenue. It says the coming IPO will mint a new group of multimillionaires, and notes the filing shows more than $32 billion in stock pay not yet counted. It sets Anthropic's headcount against Meta's roughly 67,000 employees and cites $6.6 million in revenue per Anthropic employee, against estimates of $3.2 million at Meta.

It closes on the filing's line "Talent density matters more than talent mass."

Center1 outlet

$17 billion revenue alongside $900 billion in commitments

Forbes reports that Anthropic hit $17 billion in third-quarter revenue ahead of its IPO, but that its AI spending commitments reached $900 billion. It also reports that Anthropic has filed for an initial public offering.

Conservative1 outlet

A $23 billion loss and huge spending commitments

The New York Post leads with the loss: $23.3 billion in the third quarter, up from $12.1 billion a year earlier, even as revenue rose 12-fold. It calls the $895 billion in compute and AI infrastructure commitments "eye-watering," naming companies like Amazon and Alphabet-owned Google, and says about $70 billion is due by Sept. 2027. It quotes Anthropic saying that infrastructure expenses have increased as capacity grows.

The paper then turns to , citing Bloomberg on a listing before Thanksgiving and Reuters on some investors cutting the valuation to about $1.5 trillion from up to $2 trillion. It also reports the Nasdaq ticker "ANT" and marketing starting as soon as Nov. 9. It ends on the prospectus's more than 90 pages of risk factors, which mention models with "self-preserving behaviors" and spies using false identities.

All sources: 3 articles from 3 outlets

Liberal (1)

Center (1)

Conservative (1)

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