Anthropic reported $17 billion in revenue for the third quarter, a 47% increase from the previous quarter, according to an amended S-1 filing with the Securities and Exchange Commission. The company, which develops the Claude AI models, reported a net loss of $23.29 billion for the period and an operating loss of $567 million. This follows a $974 million profit in the second quarter.
The filing revealed that Anthropic has entered into purchase commitments and lease agreements totaling approximately $895.4 billion, "substantially all of which is related to compute and infrastructure." Of that total, roughly $70 billion is due within the next 12 months, and $450 billion is due by the end of 2030. The company noted that compute and infrastructure expenses for the nine months ended Sept. 30 increased by $14.4 billion, a 329% rise compared to the same period last year.
Operating margins for the company tightened during the third quarter. On an adjusted basis, operating income was $2.5 billion, representing a 15% margin, down from 19% in the second quarter. The company attributed part of the operating loss to $5 billion spent on short-term computing capacity, which the filing stated "currently costs significantly more" than long-term deals.
In the nine months ended Sept. 30, Anthropic reported $33.24 billion in revenue, up roughly 1,200% from the same period last year. The company reported a net loss of $104 billion for that period, though it noted that $94.3 billion of that loss was due to non-cash charges related to the change in fair value of convertible notes and derivative liabilities.
As the company prepares for a potential Nasdaq listing under the ticker ANT, the filing highlighted several risks. The company's prospectus includes more than 90 pages of risk factors, including potential political headwinds and the difficulties of balancing safety with commercial objectives. Anthropic also warned that it may imminently meet a threshold for "dramatically accelerated progress attributable to AI," a process that could pose considerable safety risks.
