From BBC News · · 1m 40s
Anthropic posts 45% revenue surge ahead of stock debut
The AI company revealed strong quarterly growth to investors as it prepares for a year-end listing, but tech stocks tumble over AI spending concerns.
In brief
The AI company revealed strong quarterly growth to investors as it prepares for a year-end listing, but tech stocks tumble over AI spending concerns. Anthropic reported forty five percent quarterly revenue growth to forty five percent to sixteen point eight billion dollars as it prepares for a stock market listing…
Anthropic's revenue surges ahead of listing
The AI company saw revenue jump forty five percent to sixteen point eight billion dollars in the three months to September, according to figures revealed in an investor briefing on Wednesday.
Stock market debut expected before year-end
Anthropic laid out the groundwork for a listing expected to take place before the end of the year.The company also reportedly told investors it had made a profit for the second quarter in a row.
Tech stocks fall over AI spending doubts
Shares in chip makers including AMD, Nvidia and Intel fell sharply on Wednesday. Broadcom chief executive Hock Tan said investors have no clue and set extreme expectations only to find they are in a casino.
“no clue”
Asian markets tumble on AI concerns
In Asia, Softbank fell more than nine percent on Thursday morning.Samsung fell nine point four percent and SK Hynix dropped ten point eight percent.
Inflation data deepens market decline
US inflation data released Wednesday showed price rises accelerated more than expected in September. Investors worry higher inflation will prompt the Federal Reserve to raise borrowing costs, adding pressure to tech stocks already shaken by…
What it means
Anthropic reported forty five percent quarterly revenue growth to forty five percent to sixteen point eight billion dollars as it prepares for a stock market listing before year-end, but broader tech stocks fell over concerns about massive AI infrastructure spending.
