Anthropic’s revenue run rate tops $65B, surpassing OpenAI

Anthropic's annualized revenue run rate has topped $65 billion as of late July, marking a more than sevenfold increase from the AI company's pace at the end of last year and placing it well ahead of rival OpenAI's $40 billion mark, according to Bloomberg reporting confirmed by CNBC on Monday.finance.yahoo+1

The Claude maker shared the figures with investors over the weekend as part of a regular update, according to people familiar with the matter. The milestone represents a staggering acceleration from the $47 billion annualized run rate Anthropic disclosed in May and the $9 billion pace it logged in late 2025.cnbc+1

Quarterly Results and Path to Profitability

According to financial documents reviewed by Bloomberg, Anthropic posted preliminary revenue exceeding $11.5 billion for its most recently completed quarter, up from $787 million in the same period a year earlier. The company also reported positive adjusted operating income for the quarter, a detail likely to reassure institutional investors ahead of a public listing.tradingview

A $2 Trillion IPO on the Horizon

Anthropic confidentially filed for a U.S. IPO on June 1, and momentum toward an October debut has been building. The Financial Times reported last week that investors are targeting a valuation of $2 trillion or more, which would make it the largest initial public offering in history. On Polymarket, traders now assign a 70% probability that the company will go public by October 31.cryptopotato+2

Reuters reported on Friday that Anthropic is projecting roughly $190 billion to $200 billion in annual revenue by 2028, a forecast more than four times its May run rate. The projection is being used by bankers and investors to assess what the company could be worth at its debut.aiweekly+1

The AI Revenue Race

Anthropic's latest figures place it ahead of OpenAI, whose annualized revenue run rate recently topped $40 billion, according to Bloomberg. Anthropic raised $65 billion in a funding round in May that valued it at $965 billion, eclipsing OpenAI's valuation at the time. Both companies have submitted confidential listing documentation to regulators, but Anthropic appears closer to reaching public markets first.bloomberg+2