Anthropic Steers Toward IPO With Adjusted Profitability Amid Growth Slowdown

Anthropic told investors this week that it has turned adjusted profitable in its third quarter, posting $16.8 billion in quarterly revenue while targeting a pre-Thanksgiving initial public offering at a $1.8 trillion to $2 trillion valuation. The revelation comes amid a marked deceleration in expansion that has dented confidence in the company's ability to sustain the extraordinary valuations that have characterized the artificial intelligence sector.