Anthropic’s revenue run rate jumped to $65 billion at the end of July, up from $47 billion in May and $9 billion at the end of 2025, according to Bloomberg. The model maker’s growth has outpaced rival OpenAI, which doubled its revenue to $40 billion since late 2025. Both companies have filed confidential IPO paperwork, but Anthropic is expected to go public first, possibly this fall.
Investors anticipate Anthropic will finish 2026 with revenue between $100 billion and $120 billion, maintaining its rapid expansion. The company’s last valuation hit $965 billion in May after raising $65 billion, and its public debut could value it at $2 trillion or more, the Financial Times reports.
Anthropic’s accelerated growth has drawn more attention from investors than OpenAI’s, despite differing revenue calculation methods. The timing of its IPO remains uncertain, but the company is positioned to set a record for the largest market debut.
