Key points
- Anthropic reported Q3 revenue of $16.8 billion, up $5.2 billion from Q2.
- Q2 revenue reached $11.6 billion, an increase of $6.8 billion from Q1.
- Monthly growth estimates suggest a deceleration from July to September.
Anthropic shared high-level third-quarter financial figures with investors, according to a report by Andrew Ross Sorkin, Lauren Hirsch, and Sri Muppidi at the New York Times.reported The company recorded $16.8 billion in revenue for the quarter, representing a sequential increase of $5.2 billion or 45 percent. This marks a notable deceleration from the previous quarter's growth trajectory.
The figures
Anthropic’s first-quarter revenue stood at $4.8 billion.reported Second-quarter revenue rose to $11.6 billion, a sequential gain of $6.8 billion and 141 percent. Third-quarter revenue reached $16.8 billion, a sequential gain of $5.2 billion and 45 percent. The source material includes a reported data point that Anthropic had a $65 billion annualized revenue run-rate in July, which equates to approximately $5.4 billion in July revenue alone.reported
The open questions
The source material breaks down these quarterly totals into implied monthly estimates to assess the growth trend.
Why it matters
- Anthropic’s sequential revenue growth in Q3 was smaller in absolute dollars than its growth in Q2, indicating that growth has meaningfully slowed.
- The flattening of near-term revenue growth for AI services, combined with soaring interest rates, is likely contributing to the collapse of stocks for “neocloud” providers like CoreWeave.
- Anthropic added more revenue in Q2 than it did in Q3, with monthly growth estimates slowing from approximately $760 million in Q2 to $580 million in Q3.
- These figures suggest that the market should temper its expectations regarding how fast Anthropic will grow from here.
Updated
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- Anthropic reported Q3 revenue of $16.8 billion, up $5.2 billion from Q2.
- Q2 revenue reached $11.6 billion, an increase of $6.8 billion from Q1.
- Monthly growth estimates suggest a deceleration from July to September.