‘Gathering Steam’ in AI. Anthropic, Marvell & OpenAI. ARD #198 - AI: Reset to Zero
By Google News AI ·
Today’s theme is ‘Gathering Steam’, AI style. It’s an old steam engine metaphor. Pressure builds up slowly at first, and then the engine moves. And once it moves, it’s hard to stop. In this AI Tech Wave, a bunch of companies are doing just that.
Three events today: Anthropic updating its S-1 with a bigger quarter and a bigger compute bill ahead of its mega-AI IPO, Marvell betting $115 billion on AI optics as the rest of the AI infrastructure stack ramps up, and OpenAI building up steam for a post-election Washington. Then the Gadget AI, on Apple’s first quarter under new CEO John Ternus, and RAMageddon. And it’s Election Day here in the US. You know what you need to do.
Anthropic is getting ready for its mega-AI IPO, at a valuation of about $1.5 trillion, to be done before Thanksgiving. It has now updated its S-1 registration with the SEC for the third quarter, and the numbers show it building up steam. Revenue was almost $17 billion, up about twelve-fold from a year ago, and about $33 billion in the first nine months of the year, per CNBC in ‘Anthropic reports $17 billion in Q3 revenue, purchase commitments of $895.4 billion in revised S-1’.
As expected, growth is slowing a bit. Revenue rose about 47 percent from the second quarter, after more than doubling in each of the two quarters before. Price cuts and discounts on newer models took about $600 million off the quarter. OpenAI has been using its relative advantage in compute to cut prices on some of the lower tiers of its models, as I’ve discussed, and Anthropic is holding its own. The first operating profit, almost $1 billion in the second quarter, swung back to a small operating loss in the third, per Bloomberg in ‘Anthropic Commits to $895 Billion in Spending as Mega-IPO Nears’. The headline loss was $23…
Originally published by Google News AI