Anthropic told prospective investors revenue hit $16.8B in the September quarter, up 45% from $11.6B, and it has posted two straight profitable quarters ahead of an IPO expected before year end. Hard

What happened: Anthropic told prospective investors at its San Francisco headquarters that revenue rose 45% to $16.8bn in the three months to end September, as it prepares a stock market listing expected before the end of the year. Key numbers: Revenue $16.8bn, up 45%. Prior quarters: $4.7bn, then $11.6bn. Profit for a second straight quarter. Why it matters: The figures offer a gauge of AI industry growth and its ability to fund infrastructure, arriving as chip and tech stocks fell on AI spending concerns after Broadcom CEO Hock Tan said investors have "no clue". Coverage: 5 outlets in 24h

Anthropic told prospective investors at its San Francisco headquarters that revenue rose 45% to $16.8bn in the three months to end September, as it prepares a stock market listing expected before the end of the year.

The figures offer a gauge of AI industry growth and its ability to fund infrastructure, arriving as chip and tech stocks fell on AI spending concerns after Broadcom CEO Hock Tan said investors have "no clue".