Anthropic Revenue Slowdown Triggers Global Chip Market Sell-Off
Anthropic PBC reported third-quarter revenue of $16.8 billion, sparking a sharp decline in Asian chip markets ahead of the company's planned November IPO.
AI developer Anthropic PBC reported third-quarter revenue of $16.8 billion, marking a significant deceleration in growth compared to the triple-digit increases recorded earlier this year. The revenue represents less than a 50% increase from the June quarter, a result that triggered immediate volatility in global chip markets. South Korea's Kospi fell up to 9.3% and Japan's Nikkei 225 dropped up to 5.4% following the announcement.
The financial slowdown occurs as the company prepares for an initial public offering in early November, with market valuations reaching as high as $2 trillion. The dip is attributed to enterprise sticker shock, with one in four surveyed organizations delaying or cancelling AI initiatives due to high costs.
This revenue trend threatens to disrupt a massive funding cycle for the AI sector. Specifically, it puts at risk $60 billion in fresh AI chip financing being syndicated for Anthropic and $50 billion intended for its rival, OpenAI.
