Anthropic's Annualized Revenue Just Hit $65B — Up From $9B Less Than a Year Ago

Here's a number that's genuinely hard to wrap your head around: Anthropic is now pulling in revenue at a pace of more than $65 billion a year. If you've been watching the AI race, you already know it's moving fast — but the speed of this particular acceleration is something else entirely.

The growth curve is basically vertical

At the end of July, Anthropic's annualized revenue run rate passed the $65 billion mark, according to Bloomberg. For context, that same figure sat at $47 billion in May — and just $9 billion at the close of last year. In plain terms, the company added roughly $18 billion in annualized revenue in the span of about two months. That's the kind of trajectory most businesses would need a decade to achieve.

Investors expect the pace to hold

What's even more striking is that the people writing the checks don't think this is a fluke. As reported by the Financial Times, investors expect Anthropic to keep growing at roughly the same clip through the rest of the year, which would put its 2026 revenue somewhere between $100 billion and $120 billion. Whether that lands exactly is anyone's guess, but the expectation alone tells you how much confidence the market has in the company right now.

How it stacks up against OpenAI

It's impossible to talk about Anthropic without mentioning OpenAI. The two companies reportedly calculate their revenue metrics a bit differently, so a straight apples-to-apples comparison is tricky. Still, the numbers are telling: OpenAI doubled its revenue to $40 billion, up from $20 billion at the end of 2025, per Bloomberg. Solid growth by any measure — yet it's Anthropic's explosive curve that has investors paying the most attention these days.

The IPO angle is the real headline

All of this matters because both companies have filed confidential IPO paperwork, and Anthropic is widely expected to reach the public markets first — potentially as soon as this fall. If reports hold, the company will be chasing a public valuation of $2 trillion or more, which would make it the largest market debut in history. For reference, Anthropic was last valued at $965 billion in late May, when it raised a $65 billion round. Going from "under a trillion" to "two trillion and beyond" in a single listing would be a staggering statement about where AI is headed.

The takeaway? The AI land grab is nowhere near slowing down. Anthropic's numbers are a reminder that the companies building the models are monetizing faster than almost anyone expected — and the IPO window might be closer than you think.