Anthropic's revenue hits $65 billion a year, and it's still accelerating
The maker of the Claude AI assistant is growing faster than almost any company in history, and investors expect it to hit $100 billion or more by year's end.
Key points
- Anthropic's annualised revenue run rate, a projection of full-year earnings based on recent monthly figures, passed $65 billion at the end of July 2026.
- That figure was $47 billion in May 2026 and just $9 billion at the end of 2025.
- Rival OpenAI doubled its revenue to $40 billion over the same broad period, yet Anthropic's faster growth rate has attracted more investor attention.
- Anthropic is expected to go public as soon as autumn 2026 at a target valuation of $2 trillion or more, which would be the largest stock market debut on record.
- Anthropic was last valued at $965 billion in late May 2026 after raising a $65 billion funding round.
Anthropologists study how humans change over time. Anthropic, it seems, is studying how fast a company can grow. The maker of Claude, an AI assistant that competes directly with ChatGPT, has posted revenue figures that are making Wall Street rub its eyes.
The company's annualised revenue run rate crossed $65 billion at the end of July 2026, first reported by Bloomberg and later confirmed by the Financial Times. A run rate is not revenue collected over twelve months; it is a calculation that takes recent monthly income and projects it across a full year. Think of it as a financial speedometer reading, not an odometer total.
How fast is that, exactly?
Fast enough to look almost made up. At the end of 2025, Anthropic's run rate sat at $9 billion. By May 2026 it had reached $47 billion. By late July it was $65 billion. That is more than a sevenfold increase in seven months.
For comparison, OpenAI, the company behind ChatGPT, doubled its own revenue to $40 billion over a similar stretch, according to Bloomberg. That is strong growth for any business. For Anthropic, it is a slower day.
| Milestone | Anthropic run rate | Date |
|---|---|---|
| End of 2025 | $9 billion | Dec 2025 |
| Spring update | $47 billion | May 2026 |
| Summer update | $65 billion | July 2026 |
| Projected full year | $100B to $120B | End of 2026 |
| OpenAI (for context) | $40 billion | Mid-2026 |
Investors expect Anthropic to finish 2026 somewhere between $100 billion and $120 billion in annualised revenue, the Financial Times reported. The two companies may calculate their revenue figures differently, so direct comparisons come with caveats.
What does this mean for ordinary people?
If you use Claude at work or pay for an Anthropic subscription, nothing changes today. But the numbers matter for a simple reason: companies growing this quickly attract more money, more talent, and more pressure to build faster.
That pressure cuts both ways. Faster development can mean better AI tools reaching you sooner. It can also mean less time for careful safety testing, something Anthropic has historically made a public priority.
On the investment side, Anthropic is preparing to sell shares to the public, a step known as an IPO (initial public offering, when a private company lists on a stock exchange so anyone can buy a piece of it). The company filed confidential paperwork for that listing and may debut as soon as this autumn. The Financial Times reported Anthropic is targeting a public valuation of $2 trillion or more. If that number holds, it would be the largest first-day stock market debut ever recorded.
Anthropologic did not respond to a request for comment from TechCrunch AI before publication.
