Anthropic Q3 Revenues are Robust Enough but Worried Investors Talk Down Valuation to $1.5Tn

Are the chinks in the AI armour starting to appear? First we heard about OpenAI plugging revenues $20 billion higher than they actually were and now it looks like arch-rival Anthropic’s third-quarter revenue numbers could be on a slippery slope. The company had posted robust numbers for the second quarter that led to speculations of a quick IPO with valuations going beyond Elon Musk’s SpaceX. Of course, the most discerning wouldn’t call this a chink in the AI armoury as such, given that for some time now we have seen reports of developers increasingly opting out of expensive frontier models and preferring others that are good enough for most tasks. In fact, even Microsoft opted out of Anthropic to cut its spending on older models and their aggressive pricing.

First reported by CXOtoday. This page is a short excerpt; the full text is theirs.