Anthropic’s Annualized Revenue Surges to $65B

Anthropic’s annualized revenue run rate surpassed $65 billion at the end of July, according to TechCrunch, citing Bloomberg. That marks a sharp increase from $47 billion in May and $9 billion at the end of last year. The company added $18 billion in annualized revenue in two months.

The key term is “annualized revenue run rate”: a projection of a full year’s revenue based on a shorter recent period. It is a fast-moving metric, so readers should view it as a momentum signal rather than the same thing as audited annual revenue.

TechCrunch reports that Anthropic’s investors expect the company to keep growing at roughly the same rate for the rest of the year. Citing the Financial Times, the article says investors expect Anthropic to finish 2026 between $100 billion and $120 billion in annualized revenue.

The growth figures matter because Anthropic has filed confidential IPO paperwork. TechCrunch says Anthropic is expected to reach public markets ahead of OpenAI, possibly as soon as this fall.

OpenAI’s revenue run rate has doubled to $40 billion, up from $20 billion at the end of 2025, TechCrunch reports, citing Bloomberg. The article notes that Anthropic and OpenAI may calculate revenue metrics differently, which makes direct comparisons imperfect.

Even with that caveat, Anthropic’s growth rate has drawn stronger investor attention, according to TechCrunch. For readers tracking the AI market, the takeaway is that investor focus is shifting from model capability alone to revenue acceleration and IPO readiness.

Both Anthropic and OpenAI have filed confidential IPO paperwork, according to TechCrunch. Anthropic is seeking a public valuation of $2 trillion or more, citing the Financial Times, which TechCrunch says 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. The company did not immediately respond to TechCrunch’s request for comment.