Tech investors are cautiously optimistic following Anthropic’s filing for an initial public offering, despite concerns about the future of AI and the risks posed by the technology. The company nevertheless reported a sharp deceleration in revenue growth between the second and third quarters, while its adjusted operating margin reached 10% for the first six months. Anthropic posted a net loss of $80.7 billion over six months, including $72.4 billion related to non-cash accounting rules for convertible debt, while its cash and securities holdings totaled $131.7 billion. Its offering document reports annualized revenue of about $65 billion and states that the figure is neither a substitute for revenue nor a forecast, with the company warning that it may never achieve profitability. Anthropic plans an investor roadshow and public offering between mid- and late November, and analysts identified Amazon, Alphabet and Broadcom as key beneficiaries.
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