Anthropic 计划登陆纳斯达克，连续第二季度盈利瞄准 2 万亿美元估值
Anthropic eyes Nasdaq listing as a second profitable quarter aims to win over investors ahead of a mega-IPO
Anthropic 告知投资者将实现连续第二个季度盈利，但该说法基于剔除股权激励等成本的调整后指标；据 Financial Times，毛利率超过 80%，尚未计入对 Amazon 等伙伴的分成和模型训练成本。
报道梳理了 Anthropic 盈利口径与 Nasdaq 上市计划的细节，并指出调整后指标与分成成本的口径差异，有助于读者评估 IPO 叙事。
Anthropic has told investors it will turn a profit for the second straight quarter, but the claim rests on an adjusted metric that leaves out costs like stock-based compensation. Gross margins run above 80 percent, according to the Financial Times, though that figure comes before revenue-sharing payments to partners like Amazon and the cost of training models.
Quarterly revenue jumped 14-fold from a year earlier to $11.5 billion, and the annualized run rate hit $65 billion at the end of July. SemiAnalysis analyst Joey Brookhart says investors expect $120 billion in annualized revenue by year's end and nearly triple that by the close of 2027.
Anthropic plans to go public on the Nasdaq at a possible valuation of $2 trillion or more. Rather than release its prospectus last week as expected, the company shared the documents with only a small group of investors at first. At the same time, CEO Dario Amodei publicly called for slowing down AI development. OpenAI CEO Sam Altman and Elon Musk backed the call. Altman told Fortune that OpenAI won't go public this year.
来源：The Decoder：AI News（RSS） · the-decoder.com