Anthropic's annualized revenue run rate surpassed $65 billion in July, up from $47 billion in May. The company is on track to finish 2026 with $100 billion to $120 billion in revenue, according to the Financial Times.
TL;DR
- Anthropic's revenue run rate hit $65 billion in July, up from $47 billion in May.
- The company is expected to finish 2026 with $100 billion to $120 billion in revenue.
- Anthropic's growth rate has captivated investors, with a potential IPO valuation of $2 trillion.
What happened
Anthropic's annualized revenue run rate surpassed $65 billion at the end of July, according to Bloomberg. This is a significant increase from $47 billion in May and just $9 billion at the end of last year.
The company's investors expect it to continue growing at a similar rate, finishing 2026 with revenue between $100 billion and $120 billion, per the Financial Times.
Rival OpenAI has also seen substantial growth, doubling its revenue to $40 billion from $20 billion at the end of 2025, according to Bloomberg.
Why it matters
Anthropic's rapid growth has captured investor attention, with a potential IPO valuation of $2 trillion or more, according to the Financial Times. This would make it the largest market debut on record.
The company is expected to hit the public markets ahead of OpenAI, possibly as soon as this fall. Anthropic was last valued at $965 billion in late May, when it raised a $65 billion round.
While both companies have filed confidential IPO paperwork, Anthropic's growth rate has been more captivating to investors than OpenAI's.
Key facts
- Anthropic's annualized revenue run rate hit $65 billion in July, up from $47 billion in May and $9 billion at the end of 2025.
- The company is expected to finish 2026 with revenue between $100 billion and $120 billion.
- OpenAI's revenue doubled to $40 billion from $20 billion at the end of 2025.
- Anthropic is expected to seek a public valuation of $2 trillion or more.
- Anthropic was last valued at $965 billion in late May, when it raised a $65 billion round.
- Both Anthropic and OpenAI have filed confidential IPO paperwork.
- Anthropic is expected to hit the public markets ahead of OpenAI, possibly as soon as this fall.
Context
Anthropic and OpenAI are two of the leading players in the AI model-making industry. Their rapid revenue growth reflects the increasing demand for advanced AI models and services.
The potential IPOs of both companies will be closely watched by investors and industry observers, as they could set new records in the tech sector.
The competitive dynamics between Anthropic and OpenAI will continue to shape the AI landscape, with both companies vying for market share and investor attention.
