New Delhi, Oct 21 (SocialNews.XYZ) Artificial intelligence (AI) company Anthropic has recorded a massive net loss of $80.7 billion in the first half of this year, the Wall Street Journal reported.
Citing a draft initial public offering prospectus, the report said the vast majority of this year's net loss resulted from “accounting charges” tied to changes in the value of convertible notes and other instruments the company issued to raise funding.
The company reported $16.3 billion in revenue during that same period, with only two customers accounting for about a fifth of sales, according to the WSJ report.
The $80 billion loss compares to a net loss of $13 billion during the same period a year earlier, according to the report.
Anthropic did not immediately comment on the report. Anthropic is reportedly targeting an IPO in November.
According to the WSJ, Anthropic is having trouble securing enough cloud capacity from AWS, Google, and Microsoft.
These tech giants see the Claude-maker as a competitor rather than a customer, according to an S-1 filing leaked to The Wall Street Journal.
Anthropic is reportedly leasing its own data centres and working with third-party data centre operators.
Earlier this month, the US-based AI firm said its Claude AI model carried out a series of unintended actions on external organisations, including some US government websites, prompting a White House directive for AI firms to secure their systems.
In a report outlining previously undisclosed episodes, the San Francisco‑based company listed four categories of unintended behaviour by its models, including exploiting basic software flaws to run commands, submitting forms it should not have, and bypassing restrictions to access certain public data.
Consequently, Anthropic has restricted some types of internet access for its AI models during the testing phase of its training process.
The company said some incidents involved websites run by federal, state and local government agencies, adding that it is not naming the entities at the request of some of the affected parties.
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz