Anthropic is preparing for an initial public offering scheduled for November. Current and prospective investors are discussing a valuation of approximately $1.5 trillion for the company, which is lower than previous expectations of $2 trillion.
During an investor day in San Francisco, the company reported third-quarter revenue of $16.8 billion, representing a 45% increase. This growth rate shows a deceleration compared to the second quarter, when revenue more than doubled to reach $11.6 billion.
The company has reduced its focus on distillation, a process that previously accounted for 5% to 7% of its revenue. Additionally, Anthropic lowered the price of its Claude Haiku 5.5 model by approximately 75% this month, citing competitive pressure from Chinese laboratories.
Market analysts note that major clients, including Meta and Microsoft, are increasingly developing their own artificial intelligence models. Research firm New Constructs recently estimated the company's value at $150 billion, expressing skepticism regarding the long-term viability of its business model.
The broader artificial intelligence sector is currently facing market volatility. CNBC reports that the 20 most valuable AI and chip companies have lost over $1 trillion in market capitalization. Shares of Dell fell 6.8% on Thursday, while CoreWeave experienced a 15% decline on Wednesday.
