Anthropic tells investors quarterly revenue up nearly 50% to $16.8bn ahead of IPO

Anthropic, a leading AI company, reported a 48% increase in quarterly revenue to $16.8 billion ahead of its IPO. However, market fears about the AI trade have slowed this rapid growth.

The global tech sector is experiencing a significant sell-off, with Asian markets tumbling. AI-related stocks in South Korea and Japan have been particularly affected, following a decline on Wall Street due to high US inflation.