Anthropic Reports Profit Excluding Claude Development Costs

Anthropic has revealed to investors that it achieved profitability for the second consecutive quarter, though this figure excludes costs associated with developing the next version of its Claude AI model.

According to the Financial Times, the company disclosed these financial figures to a select group of investors ahead of its Nasdaq listing.

The profit report does not include Amazon's fees or training costs. Adjusted operating income recorded a profit this quarter, excluding stock-based compensation paid to researchers instead of cash.

Gross margin exceeded 80%, though this figure excludes two specific items. In simple terms, Anthropic stated it is already generating revenue from its existing Claude models but has not yet turned a profit on developing the next model, which is what the upcoming IPO aims to fund.

Model training is not a secondary task; it's central to creating new versions of Claude, as highlighted by recent developments. In April, Anthropic promised to secure multiple gigawatt-scale chip production capacity with Google and Broadcom, described by CFO Krishna Rao as the largest computing resource acquisition in the company's history.

Revenue has grown rapidly, reaching $11.5 billion in Q2, a 14x increase from the previous year. Senior AI analyst Joy Brookhart of Semianalysis stated this growth alone would create a barrier for competitors.

CEO Dario Amodei published an essay urging the industry to slow down two days before announcing his company's profit figures. Stock prices related to semiconductors declined the following trading day, with Michael Burry criticizing the timing as self-serving.