Anthropic says it’s about to have its first profitable quarter

Anthropic has told its investors that it will more than double revenue to around $10.9 billion in its second quarter, and deliver an operating profit for the first time, the Wall Street Journal reports.

That’s a big milestone and fast quarter-over-quarter growth that would put it in an advantageous position relative to its chief competitor, OpenAI. However, the WSJ reports, it may not remain profitable throughout the year due to the large compute costs it’s scheduled to incur.

These financials were recently shared with the company’s investors as part of a funding round.

The startup has gained in popularity over the past year, as more and more professionals have expressed a preference for its chatbot, Claude. The company has also made recent efforts to diversify its customer base — including announcing a new service for small business owners and new tools for law firms.

Interestingly, this info about Anthropic’s alleged profitability dropped the same day as news broke about OpenAI likely filing for its IPO soon. Anthropic declined to provide further comment.