- Anthropic reported Q3 revenue of $16.8 billion, up from $11.6 billion in Q2, with an 85% adjusted gross margin and positive free cash flow.
- Venture capitalist Michael Fertik predicted a “blockbuster” IPO from Anthropic while questioning whether OpenAI is serious about going public.
- Hotter-than-expected U.S. inflation and AI valuation concerns triggered a 1.9% Nasdaq decline and an 8.7% drop in semiconductor stocks.
Anthropic‘s third-quarter financial disclosure on Wednesday revealed $16.8 billion in revenue, sparking debate among investors about AI valuations and contributing to a broader tech selloff. The Claude maker’s revenue climbed from $11.6 billion in the second quarter and $4.7 billion in the first, according to a Bloomberg report.
CNBC‘s Jim Cramer wrote that the numbers appeared “disappointing–to some” and contributed to pressure on the Nasdaq. The index fell roughly 1.9% while the iShares Semiconductor ETF dropped 8.7%, driven by hotter-than-expected U.S. inflation and renewed concerns over lofty AI valuations.
Anthropic reported an 85% adjusted gross margin, positive free cash flow, and an adjusted operating margin above 11% for the quarter. The company is reportedly preparing for a potential IPO that could value it at around $2 trillion.
Verdict Capital‘s Michael Fertik expressed confidence in Anthropic‘s prospects while questioning OpenAI‘s commitment to going public. “Anthropic is going to be a blockbuster that might cover some of the potential gaps from an OpenAI non-IPO,” Fertik said in a CNBC interview.
“Every time they leak some numbers or show a little bit of ankle, it just doesn’t seem all that beautiful, does it?” Fertik added about OpenAI‘s IPO plans. AI critic Ed Zitron noted that boosters were frustrated Anthropic didn’t provide a new run rate figure, referencing a $20 billion discrepancy in OpenAI‘s annualized sales.
Microsoft, Amazon, and Alphabet all have significant exposure to AI infrastructure spending through their investments in these labs. Oracle, neocloud providers like CoreWeave and Nebius, and chipmakers including NVIDIA and AMD are also tied to AI spending trends.
Retail sentiment on Stocktwits was ‘bullish’ for Anthropic and ‘bearish’ for OpenAI as of early Thursday. Private market valuations stood at $1.35 trillion and $986.6 billion respectively.
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