Anthropic's annualized revenue surges to $65B as IPO looms

Anthropic's revenue growth is not just record-breaking—it's accelerating. According to Bloomberg, the AI model maker's annualized revenue run rate surpassed $65 billion at the end of July, up from $47 billion in May and a mere $9 billion at the end of last year. The company did not immediately respond to a request for comment.

Investors expect the torrid pace to continue, with the Financial Times reporting that Anthropic could finish 2026 with an annualized run rate between $100 billion and $120 billion. For context, rival OpenAI has doubled its revenue to $40 billion, up from $20 billion at the end of 2025. While the two companies may calculate revenue differently, Anthropic's trajectory has captured investor enthusiasm far more.

Both firms have filed confidential IPO paperwork, but Anthropic is expected to go public first—possibly as soon as this fall. The company is reportedly seeking a valuation of $2 trillion or more, which would make it the largest market debut on record. That would be a leap from its $965 billion private valuation set in late May when it raised a $65 billion round.

For developers, this is more than a financial headline. Anthropic's revenue explosion signals that enterprises are paying real money for frontier AI—not just experimenting. The company's API and model offerings are increasingly embedded in production workloads, and its financial firepower will likely fuel even more aggressive model development. As the AI arms race heats up, expect Anthropic to keep pushing the envelope on capability, pricing, and enterprise features.