Anthropic's annualized revenue run rate — a projection of a full year's revenue based on a recent shorter period — surpassed $65 billion at the end of July, according to a Bloomberg report on Monday. That's up from $47 billion in May and just $9 billion at the end of last year. The company did not immediately respond to a request for comment.

Investors expect Anthropic to keep growing at roughly the same pace for the rest of the year, finishing 2026 between $100 billion and $120 billion, per the Financial Times. Meanwhile, rival OpenAI has doubled its revenue to $40 billion, from $20 billion at the end of 2025, as Bloomberg reported last week. The two companies may calculate revenue differently, but Anthropic's growth has drawn far more investor interest than OpenAI's.

Both firms have filed confidential IPO paperwork. Anthropic is expected to go public before OpenAI — possibly as soon as this fall — and will seek a public valuation of $2 trillion or more, according to the Financial Times, which would make it the largest market debut on record. Anthropic was last valued at $965 billion in late May, when it raised a $65 billion round.

Source: TechCrunch