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

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

That’s a big milestone and rapid quarter-over-quarter growth that would put it in an advantageous position against its main competitor, OpenAI. However, the WSJ reports that it may not remain profitable all year due to the large computing costs it will incur.

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

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

Interestingly, this information about Anthropic’s alleged profitability dropped on the same day as news broke that OpenAI will likely file for an IPO soon. Anthropic declined to comment further.