Anthropic Revenue Run Rate Surges Past $65B Ahead of Potential IPO

Anthropic’s annualised revenue run rate surpassed $65 billion at the end of July, accelerating sharply from $47 billion in May and about $9 billion at the end of 2025, according to Bloomberg.

The figure represents projected annual revenue based on the company’s recent performance rather than revenue already collected over a full year. Even so, the rapid increase highlights the pace at which demand for Anthropic’s Claude models and enterprise AI products has expanded.

Anthropic revenue growth accelerates

Investors expect Anthropic’s growth to continue through the remainder of 2026. The Financial Times reported that projections put the company’sannualisedd revenue between $100 billion and $120 billion by year-end.

Anthropic’s reported growth also places it ahead of rival OpenAI on the revenue run-rate figures disclosed by the companies and reported by Bloomberg. OpenAI recently reached approximately $40 billion in annualised revenue, up from $20 billion at the end of 2025.

The two companies may calculate their revenue metrics differently, meaning the figures are not necessarily directly comparable. Still, Anthropic’s recent acceleration has drawn significant investor attention as both AI companies prepare for potential public listings.

IPO expectations rise alongside valuation

Anthropic and OpenAI have both filed confidential paperwork for initial public offerings, according to reports. Anthropic could reach the public markets first, potentially as soon as this fall.

The Financial Times reported that Anthropic could seek a valuation of $2 trillion or more in an IPO. Such a valuation would represent another major increase for the company, which was valued at $965 billion following its $65 billion May raise.

Anthropic has not publicly confirmed the latest revenue figure or its reported IPO timetable. The company did not immediately respond to a request for comment on Bloomberg’s report.