Anthropic’s Revenue Run Rate Tops $65 Billion as IPO Plans Accelerate

Anthropic reported an annualized revenue run rate of $65 billion at the end of July, a seven-fold increase from a year earlier. The figure, first disclosed by Bloomberg and later confirmed by CNBC, reflects a 14-fold jump in second-quarter revenue to $11.5 billion compared with the same period a year ago. Earlier in the year the run rate was $47 billion in May and $9 billion at the close of the previous year, according to Bloomberg.

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The company filed a confidential prospectus with the U.S. Securities and Exchange Commission in June and has been meeting potential investors, though it has not set a public debut timeline. The Financial Times reported that investors anticipate Anthropic will finish 2026 with annual revenue between $100 billion and $120 billion, and that the firm is seeking a public valuation of $2 trillion or more. Such a valuation would make the IPO the largest market debut on record.

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Rival OpenAI, which also filed confidential IPO paperwork, has doubled its revenue to $40 billion, up from $20 billion at the end of 2025, as reported by Bloomberg. While both firms calculate revenue metrics differently, Anthropic’s growth rate has drawn more investor attention, according to TechCrunch’s coverage of the Financial Times analysis.

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Analysts cited by the Financial Times expect Anthropic’s growth to continue at a similar pace through the remainder of the year, potentially positioning the company for a fall market entry. The company declined to comment on the revenue figures when approached by CNBC and TechCrunch.

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