Anthropic reports Q2 revenue exceeds $11.5 billion
Anthropic's second-quarter revenue rose to over $11.5 billion, a more than 14-fold increase from a year earlier, as the AI firm readies for a possible initial public offering.
Anthropic said its preliminary revenue for the second quarter of 2024 topped $11.5 billion, up from $787 million in the same period a year earlier and $4.73 billion in the first quarter of 2024, according to documents reviewed by Bloomberg News. The company also recorded a positive adjusted operating income for the quarter, though the figures remain provisional.
The surge comes as Anthropic competes with OpenAI for corporate clients and reports growing use of its Claude chatbot for tasks such as coding. In May, the firm announced that its annualized revenue run-rate had passed $47 billion, compared with roughly $10 billion in total revenue for 2023.
Sources told CNBC that Anthropic’s chief financial officer, Krishna Rao, is leading early discussions with prospective investors ahead of a potential fall IPO, though meetings have not yet covered specific valuations. An offering could provide the company with substantial capital to support expanding compute needs, hardware acquisition, and data-center development.
"Anthropic's early meetings with prospective investors have been high-level and have not included discussions about specific financials or a valuation," a source familiar with the process said.