Anthropic’s net loss narrowed sharply in the third quarter, while revenue increased, according to a revised initial public offering filing submitted to the U.S. Securities and Exchange Commission on Monday. The company reported a net loss of $23.29 billion for the three months ended September 30, down from $66.3 billion in the second quarter. Revenue rose to $16.96 billion from $11.56 billion.
The artificial intelligence company filed to go public last week, setting the stage for a potential record-setting IPO as investors examine the large sums being directed toward AI infrastructure. Its initial paperwork was filed on October 26, and the offering is expected next month.
A key question for the company is whether it will secure an investment-grade credit rating after going public. On Friday, Blackstone told investors that Anthropic might not receive such a rating immediately after its IPO, a shift from earlier guidance that could make it harder for the company to finance its spending plans.
People familiar with the matter said Blackstone told investors involved in Anthropic’s latest $63 billion chip financing deal that the startup was expected to receive a high-yield rating, but one close to investment grade, from major ratings agencies after the IPO.
Anthropic’s prospectus outlines plans to spend more than $800 billion on computing infrastructure between now and 2045. An investment-grade rating could help the company borrow at lower interest rates to fund those projects. Anthropic has more than $112 billion in cash and equivalents, and investors expect it could raise another $100 billion through the IPO.
Sources: Folha Mercado.