Anthropic’s annual revenue run rate reached $65 billion by the end of July 2026, up from about $9 billion at the end of 2025, roughly a sevenfold increase, according to original reporting by Bloomberg. The AI lab is expected to go public in the fall, ahead of OpenAI and DeepSeek.
How fast did Anthropic’s revenue grow in 2026?
The growth curve compressed dramatically in the first half of the year. Second quarter revenue was more than $11.5 billion, over 14 times the same quarter a year earlier and more than double the first quarter figure of $4.73 billion. That pace pushed the annualized run rate from $9 billion at the end of 2025 to $65 billion by the end of July.
OpenAI’s run rate stands at $40 billion for comparison, meaning Anthropic has overtaken its larger rival on this measure by a wide margin.
What is the timeline for Anthropic’s IPO?
The company is preparing to list in the fall of 2026, ahead of OpenAI and DeepSeek, both of which are also expected to offer stock on public markets. The fall window would make Anthropic the first of the three frontier AI labs to reach the public market.
Why does the run rate matter?
Annual revenue run rate multiplies the most recent monthly or quarterly figure to project a full year of sales, giving investors a near real-time read on growth. When a run rate grows from $9 billion to $65 billion in roughly seven months, it signals that enterprise demand, API consumption, and paid seats are expanding at a pace that far outstrips what most software companies achieve in their entire lifetime.
For comparison, scale software companies that took years to reach $1 billion in annual revenue are now watching a single AI lab add tens of billions in projected sales in a matter of quarters. The metric is not the same as recognized revenue, but it is the figure that anchors the conversation with bankers, prospective IPO investors, and the press.
Where does Anthropic sit among the frontier AI labs?
Three independent labs are widely seen as the public-market candidates from the current AI cycle: Anthropic, OpenAI, and DeepSeek. Anthropic’s $65 billion run rate now sits well above OpenAI’s $40 billion, while DeepSeek’s commercial figures remain less visible in Western reporting. The fall IPO schedule would put Anthropic first in line, with OpenAI and DeepSeek expected to follow.
What Anthropic has not disclosed
No executive quotes from Anthropic accompanied the report. The company has not announced a valuation, a target share price, or the lead underwriters, and the source does not name any investors. Anything beyond the $65 billion run rate, the $11.5 billion second quarter figure, the $4.73 billion first quarter figure, the $9 billion end-of-2025 figure, and the fall 2026 public listing window is not in the source.
FAQ
What is Anthropic’s annual revenue run rate?
Anthropic’s annual revenue run rate reached $65 billion by the end of July 2026, according to Bloomberg reporting.
How much did Anthropic earn in the second quarter?
Second quarter revenue was more than $11.5 billion, more than 14 times the same quarter a year earlier and more than double the first quarter figure of $4.73 billion.
When is Anthropic expected to go public?
Anthropic’s IPO is expected in the fall of 2026, ahead of OpenAI and DeepSeek, which are also expected to offer stock on the public markets.
This article summarizes reporting from fortune.com. See our editorial disclaimer for how our articles are produced.
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