Anthropic courts investors ahead of expected stock market listing

Anthropic is seeking to reassure potential investors about its ability to generate profits ahead of an expected stock market debut. At an investor event at its San Francisco headquarters, the company highlighted revenue growth and reported a third quarter profit on an adjusted basis, which excludes non-recurring costs.

Revenue surged by 45% to $16.8bn (£12.7bn) in the three months to the end of September. That followed $4.7bn in the first three months of the year and $11.6bn in the following period. Investors reportedly left the event optimistic about the company’s growth and path to profitability, despite the substantial technology spending required across the industry.

Safety was another focus. Chief executive Dario Amodei has called for slower development, while current and former researchers have warned about serious risks. Anthropic said in September that it had disrupted attempts to use its model for malicious activity that could support biological weapons development.

The fundraising pitch comes amid broader market unease about AI investment. Shares in chipmakers including AMD, Nvidia and Intel fell sharply as investors questioned spending expectations. Stronger-than-expected US inflation also deepened market declines by raising concerns about higher borrowing costs.