Anthropic’s annualized revenue run rate exceeded $65 billion at the close of July, according to Bloomberg, up from $47 billion in May and just $9 billion at the end of the previous year. The figure reflects a projection based on a recent shorter period and indicates a continued acceleration in the company’s sales trajectory. Investors surveyed by the Financial Times expect the growth rate to persist, forecasting a full‑year 2026 revenue between $100 billion and $120 billion.
OpenAI reported a doubling of its revenue to $40 billion, up from $20 billion at the end of 2025, also per Bloomberg. Both Anthropic and OpenAI have submitted confidential IPO registrations; Anthropic is anticipated to list ahead of its rival, possibly as early as this fall, with a target public valuation of $2 trillion or more. This follows a $65 billion financing round in May that valued the company at $965 billion.
- Anthropic: $65 B annualized run rate (July), $47 B (May), $9 B (end‑2024)
- Projected 2026 revenue: $100‑120 B
- OpenAI: $40 B revenue (current), $20 B (end‑2025)
- IPO timing: Anthropic possibly fall 2025, OpenAI later
- Target valuation: Anthropic ≥$2 T; last private valuation $965 B (May)
Why this matters
Fact: Anthropic’s revenue run rate has more than sextupled in less than a year, indicating strong market demand for its models. Inference: If the current growth trajectory holds, the company’s scale could surpass that of many incumbent cloud providers, potentially shifting competitive dynamics in the foundation‑model sector and influencing pricing, licensing, and partnership strategies across the industry.