Anthropic’s annualized revenue surges to $65B

August 17, 2026 | Source: TechCrunch AI

Tags: Anthropic, Claude, IPO, revenue, funding, OpenAI

Anthropic's annualized revenue run rate hit $65B at end of July 2026, up from $47B in May and $9B at end of 2025 — investors expect $100-120B by year-end as the company files confidential IPO paperwork targeting a $2T public valuation.

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Anthropic's revenue growth has been staggering even by tech standards. The company's annualized run rate crossed $65 billion at end of July 2026, adding $18 billion in two months after sitting at $47 billion in May. Just seven months earlier, in December 2025, it was $9 billion — roughly 7x growth in under a year. Investors expect Anthropic to close 2026 between $100-120 billion in annualized revenue at the current trajectory. For context, rival OpenAI has reached $40B annualized revenue — doubled from $20B at end of 2025 — but Anthropic's growth rate has attracted significantly more investor attention. Both companies have filed confidential IPO paperwork. Anthropic is expected to reach public markets ahead of OpenAI, potentially this fall, targeting a $2 trillion public valuation — which would make it the largest IPO on record. The company was last valued at $965 billion in May when it closed a $65 billion funding round. For enterprise buyers of AI, Anthropic's trajectory signals strong Claude adoption at scale. The path to a $2T IPO will reshape competitive dynamics across the entire AI industry.