Anthropic's annualized revenue hits $65B, passing OpenAI's $40B
Anthropic's annualized revenue run rate passed $65 billion at the end of July, up from $47 billion in May and $9 billion at the end of 2025 — $18 billion added in two months. OpenAI sits near $40 billion, and Anthropic is expected to reach the public markets first, possibly this fall, seeking a valuation above $2 trillion. Run rate is a projection from a short period, and the two companies may calculate it differently.
Source: techcrunch.com ↗
The company's investors expect it to continue to grow at approximately the same rate for the remainder of the year, finishing 2026 between $100 billion and $120 billion.
Financial Times (via Anthropic investors)
Why this matters
- → Anthropic's $65B annualized run rate signals AI infrastructure spending has scaled beyond research into produc
- → Growth acceleration (7x in 8 months) outpaces OpenAI and reshapes the public-markets timeline for AI companies
- → A $2T+ IPO valuation would make this the largest market debut ever, indicating investor conviction in LLM depl
AI's $100B+ company arrives