Anthropic, Claude’s company, released its third quarter results a few weeks after going public. It brought in $17 billion and collected around $895.4 billion in spending commitments, particularly in computing and infrastructure.
Why is it important?. It’s the first top AI lab to attempt to list, and it does so after a black October for AI values in the stock market, with the entire sector under suspicion.
Oracle (-8.8%) or Corewave (-8.6%) also fell significantly on Monday. The Nasdaq 100 closed 10.4% below its Oct. 6 record.
Investors have been wondering for weeks whether the payout will ever be paid, and now Anthropic must respond with a document registered with the regulator.
Statistics. Anthropology continues to grow, albeit less so far, and for that growth it spends more:
- Income: 17,000 million (1,400 million a year ago).
- Quarterly Growth: 47%, after 144% in the previous quarter.
- Computing: It took 58% of revenue compared to 48% in the previous quarter.
- Operating Results: 567 million losses, after 974 million wins.
- Net loss: 23.3 billion, mostly due to an accounting entry linked to its convertible bonds. It’s the most interesting figure and the one that says the least about Anthropic’s business.
between the lines. The two figures in the title are part of the same problem:
- Anthropologist reserves almost all of its computing 12 to 18 months in advance.
- Demand exceeded that forecast and in the short term another 5,000 million had to be bought, much more expensively.
That and a $2 billion cash charge explain the loss for its employee grant program, according to the company. His response has continued to be signed. In October alone it added nearly $100 billion in commitments, roughly what its banks suggested it could raise in the IPO.
So you can be wrong on both sides:
- If less, You have to pay more and your margin is gone.
- If passed, You will have many years of contracts and may not have enough clients to fulfill them.
Yes, but. That invoice has a little more margin than it seems, and you don’t have to pay it tomorrow either:
- Some 213.8 billion are subject to conditions or termination rights.
- and about 69.8 billion maturing in the next twelve months.
It had about $132 billion in cash and short-term investments at the end of September.
money trail. Broadcom (161,200 million), Google (121,300), SpaceX (up to 120,500) and Amazon (110,000) topped the charge list. Google and Amazon have also invested in Anthropy, so some of what they give goes back into their cloud.
and what now. Anthropic’s prospectus still leaves the price range and number of shares blank. And we are already in full calculation. Bloomberg Investors begin the campaign during the week of November 9, with premieres before November 26 (marked by Thanksgiving Day in the US).
Some investors already value it at around 1.5 trillion, compared to 2 trillion recently. This price will put a more specific value on Anthropic, but it will also serve as a measuring stick for the rest of the sector. including OpenAI.
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In Xataka | The business that Anthropic promises is worth 40 billion to investors. We get paid to do what your AI wants to do
