# Eric Schmidt says Anthropic growing more than twice as fast as Google did

Digest AI · Business & Funding · published 2026-10-22T05:30:00Z · updated 2026-10-22T15:13:16Z

Canonical: https://digestai.news/story/eric-schmidt-says-anthropic-growing-more-than-twice-as-fast-as-google

## Summary

Former Google chief Eric Schmidt told Norway's sovereign wealth fund head Nicolai Tangen on the In Good Company podcast that artificial intelligence "is not a bubble," pointing to Anthropic's rapid revenue growth. He said the company is expanding "more than twice the speed" they did when he led Google, and noted his own financial stake – Bloomberg reported he owns about 1% of Anthropic, a holding potentially worth $15 billion to $20 billion ahead of its anticipated IPO.

Anthropic disclosed that third‑quarter revenue jumped 45% to $16.8 billion, up from $11.6 billion in the prior quarter and $4.7 billion in the first. The firm said it was profitable on an adjusted basis, though growth slowed after more than doubling between the first and second quarters. A draft IPO prospectus reviewed by Reuters showed an $80.7 billion net loss in the first half of 2026, including a $72 billion non‑cash accounting charge, and the company spent nearly $9 billion on computing and infrastructure while committing at least $518 billion over a decade. Schmidt warned that free Chinese models could capture most global users, and Polymarket traders assigned a 9% chance of an AI‑industry downturn by Dec. 31, with nearly $2.5 million traded.

## Key points

- Anthropic Q3 revenue rose 45% to $16.8 billion, up from $11.6 billion and $4.7 billion earlier.
- Company posted an $80.7 billion net loss in H1 2026, with a $72 billion non‑cash charge and $9 billion computing spend.
- Eric Schmidt, owning about 1% of Anthropic, says its growth is more than twice Google’s rate when he led the firm.

## Why it matters

Anthropic’s rapid revenue rise and huge losses illustrate the high‑cost, high‑reward dynamics of the AI race, shaping investor sentiment and competitive strategies.

## Sources

1. [Eric Schmidt Rejects AI Bubble Fears, Says Anthropic Is Growing Twice as Fast as Google Did](https://finance.yahoo.com/technology/ai/articles/eric-schmidt-rejects-ai-bubble-150410786.html) (finance.yahoo.com, 2026-10-22)
2. [Schmidt's ~1% Anthropic stake traces to 2021 Series A bet](http://vectorwire.ai/article/schmidt-s-1-anthropic-stake-traces-to-2021-series-a-bet-8e09dd) (vectorwire.ai, 2026-10-22)

Part of the developing story: [Anthropic Launches Claude 5.5 Suite Across Clouds](https://digestai.news/thread/claude-sonnet-5-5-rivals-opus-with-thinking-budget-settings) (9 stories)

## Cite

Digest AI, "Eric Schmidt says Anthropic growing more than twice as fast as Google did", 22 October 2026, https://digestai.news/story/eric-schmidt-says-anthropic-growing-more-than-twice-as-fast-as-google

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