Latest news with #DadoRuvic
The Star
6 hours ago
- Business
- The Star
Exclusive-Anthropic hits $3 billion in annualized revenue on business demand for AI
FILE PHOTO: Anthropic logo is seen in this illustration taken May 20, 2024. REUTERS/Dado Ruvic/Illustration/File Photo SAN FRANCISCO (Reuters) -Artificial intelligence developer Anthropic is making about $3 billion in annualized revenue, according to two sources familiar with the matter, in an early validation of generative AI use in the business world. The milestone, which projects the company's current sales over the course of a year, is a significant jump from December 2024 when the metric was nearly $1 billion, the sources said. The figure crossed $2 billion around the end of March, and at May's end it hit $3 billion, one of the sources said. While consumers have embraced rival OpenAI's ChatGPT,a number of enterprises have limited their rollouts to experimentation, despite board-level interest in AI. Anthropic's revenue surge, largely from selling AI models as a service to other companies, is a data point showing how business demand is growing, one of the sources said. A key driver is code generation. The San Francisco-based startup, backed by Google parent Alphabet and is famous for AI that excels at computer programming. Products in the so-called codegenspace have experienced major growth and adoption in recent months, often drawing on Anthropic's models. This demand is setting Anthropic apart among software-as-a-service vendors. Its single-quarter revenue increases would count Anthropic as the fastest-growing SaaS company that at least one venture capitalist has ever seen. "We've looked at the IPOs of over 200 public software companies, and this growth rate has never happened," said Meritech General Partner Alex Clayton, who is not an Anthropic investor and has no inside knowledge of its sales. He cautioned that these comparisons are not fully precise, since Anthropic also has consumer revenue via subscriptions to its Claude chatbot. Still, by contrast, publicly traded SaaS company Snowflake took six quarters to go from $1 billion to $2 billion in such run-rate revenue, Clayton said. Anthropic competitor OpenAI has projected it will end 2025 with more than $12 billion in total revenue, up from $3.7 billion last year, three people familiar with the matter said. This total revenue is different from an estimated annualized figure like Anthropic's. Reuters could not determine this metric for OpenAI. The two rivals appear to be establishing their own swim lanes. While both offer enterprise and consumer products, OpenAI is shaping up to be a consumer-oriented company, and the majority of its revenue comes from subscriptions to its ChatGPT chatbot, OpenAI Chief Financial Officer Sarah Friar told Bloomberg late last year. OpenAI has not reported enterprise-specific revenue but said in May that paying seats for its ChatGPT enterprise product have grown to 3 million, from 2 million in February, and that T-Mobile and Morgan Stanley are among its enterprise customers. In the consumer race, Anthropic's Claude has seen less adoption than OpenAI. Claude's traffic, a proxy for consumer interest, was about 2% of ChatGPT's in April, according to Web analytics firm Similarweb. Anthropic, founded in 2021 by a team that departed OpenAI over differences in vision, closed a $3.5 billion fundraise earlier this year. That valued the company at $61.4 billion. OpenAI is currently valued at $300 billion. (Reporting by Anna Tong and Jeffrey Dastin in San Francisco; Additional reporting by Kenrick Cai in San Francisco and Krystal Hu in New York; Editing by Kenneth Li and Matthew Lewis)
Straits Times
10 hours ago
- Health
- Straits Times
US CDC keeps recommendation of COVID vaccines for healthy kids
Moderna logo is seen displayed in this illustration taken, May 3, 2022. REUTERS/Dado Ruvic/Illustration US CDC keeps recommendation of COVID vaccines for healthy kids WASHINGTON - The U.S. Centers for Disease Control and Prevention is still recommending COVID-19 vaccines for healthy children, according to its latest published immunization schedule. The schedule, published late on Thursday by the public health agency, comes after Health and Human Services Secretary Robert F. Kennedy Jr. — alongside the heads of the FDA and the National Institutes of Health — earlier this week said the CDC would stop recommending routine COVID vaccines for healthy children and pregnant women. The makers of COVID vaccines sold in the U.S. — Pfizer, Moderna and Novavax — did not immediately respond to Reuters' requests for comment. Kennedy Jr., FDA commissioner Marty Makary and NIH director Jay Bhattacharya had said in a video that the shots were removed from the CDC's recommended immunization schedule. The CDC, following its panel of outside experts, previously recommended updated COVID vaccines for everyone aged six months and older, and current recommendations are in line with those made before. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
The Star
16 hours ago
- Business
- The Star
Brazil's Meliuz launches share offering for bitcoin purchase
FILE PHOTO: Representations of cryptocurrency Bitcoin are seen in this illustration taken November 25, 2024. REUTERS/Dado Ruvic/Illustration/File Photo SAO PAULO (Reuters) - Brazilian fintech Meliuz said it has filed for a primary offering of shares with the aim of raising funds for the acquisition of bitcoin, with pricing scheduled for June 12. In a securities filing on Friday, Meliuz said the offering involves the primary distribution of, initially, 17,006,803 common shares to the amount of 150 million reais ($26.45 million). The operation may be expanded by up to 200% of the total shares initially offered, it added. ($1 = 5.6704 reais) (Reporting by Alberto Alerigi Jr; Writing by Isabel Teles)
The Star
19 hours ago
- Business
- The Star
Google and DOJ to make final push in US search antitrust case
The new Google logo is seen in this illustration taken May 13, 2025. REUTERS/Dado Ruvic/Illustration/File Photo WASHINGTON (Reuters) -Alphabet's Google and U.S. antitrust enforcers will make their final arguments on whether the tech giant should be forced to sell its Chrome browser or adopt other measures to restore competition in online search, as the blockbuster antitrust trial concludes on Friday. The U.S. Department of Justice and a coalition of states are pressing to make Google not only sell Chrome, but also share search data and cease multibillion-dollar payments to Apple and other smartphone makers and wireless carriers that set Google as the default search engine on new devices. The proposals aim to restore competition after a judge found last year that Google illegally dominates the online search and related advertising markets. Artificial intelligence companies could get a boost after already rattling Google's status as the go-to tool to find information online. U.S. District Judge Amit Mehta is overseeing the trial, which began in April. He has said he aims to rule on the proposals by August. If the judge does require Google to sell off Chrome, OpenAI would be interested in buying it, Nick Turley, OpenAI's product head for ChatGPT, said at the trial. OpenAI would also benefit from access to Google's search data, which would help it make responses to user inquiries more accurate and up to date, Turley said. Google says the proposals go far beyond what is legally justified by the court's ruling, and would give away its technology to competitors. The company has already begun loosening agreements with smartphone makers including Samsung Electronics to allow them to load rival search and AI products. The DOJ wants the judge to go farther, banning Google from making lucrative payments in exchange for installation of its search app. (Reporting by Jody Godoy in Washington; Editing by Richard Chang)
The Star
a day ago
- Business
- The Star
Exclusive-Thoma Bravo explores $3 billion-plus sale of software firm Apryse, sources say
FILE PHOTO: U.S. dollar banknotes are seen in this illustration taken March 19, 2025. REUTERS/Dado Ruvic/Illustration/File Photo (Reuters) -Buyout firm Thoma Bravo is exploring a $3 billion-plus sale of Apryse, after receiving interest from potential buyers of the document processing software provider, people familiar with the matter said on Thursday. Thoma Bravo is working with investment bankers at Lazard on the sale process, said the sources, noting interest had already come from other private equity firms. As part of any deal, Thoma Bravo may decide to retain a minority stake in Apryse, the sources said. They also cautioned that no sale was guaranteed and spoke on condition of anonymity to discuss confidential deliberations. Thoma Bravo declined to comment, while Apryse and Lazard did not respond to Reuters' requests for comment. Denver, Colorado-based Apryse provides document processing technology for developers of mobile and computer applications, allowing them tocreate, edit, and convert digital documents, as well as integrate such capabilities into their own applications. Its customers include Novartis, Wells Fargo and DocuSign, according to its website. Apryse generates more than $100 million in earnings before interest, taxes, depreciation, and amortization (EBITDA) and is growing more than 20 percent annually, the sources said. Any deal is expected to value the company at 30x its EBITDA or higher, the sources added. PDFTron, the previous name of Apryse, was founded in 1998 as a document processing technology platform. It was acquired by Thoma Bravo in 2021, with the investment led by the co-head of Thoma's Discover platform, Hudson Smith. The company was renamed as Apryse two years Capital Partners and the company's management team have remained minority shareholders in the business. Apryse has completed nine add-on acquisitions to expand its functionality and global reach since Thoma Bravo acquired the company. These include Netherlands-based digital document processor TallComponents, which was announced earlier this week, and AI-powered software maker Lead Technologies, completed last year. (Reporting by Milana Vinn in New York; Editing by David Gregorio)
