Anthropic's annualized revenue run rate — a projection of a full year’s revenue based on a recent shorter period — exceeded $65 billion at the end of July, Bloomberg reported on Monday. That marks a sharp increase from $47 billion in May and $9 billion at the end of 2025.
Investor expectations and forecasts
According to the Financial Times, the company's investors expect a similar pace of growth to continue for the rest of the year, projecting Anthropic's 2026 annualized revenue to finish between $100 billion and $120 billion.
Comparison with OpenAI
Bloomberg reported last week that rival OpenAI has doubled its revenue to $40 billion from $20 billion at the end of 2025. The two companies may use different methods to calculate revenue metrics, but Anthropic’s growth rate has attracted greater investor attention than OpenAI’s.
IPO plans and valuation
Both companies have filed confidential IPO paperwork. Anthropic is expected to go public ahead of OpenAI — possibly as soon as this fall — and the Financial Times reports it may seek a public valuation of $2 trillion or more, which would be the largest market debut on record. Anthropic’s most recently reported valuation was $965 billion in late May, when it raised a $65 billion funding round.
Note
Anthropic did not immediately respond to requests for comment regarding the Bloomberg and Financial Times figures.
