Anthropic’s annualized revenue run rate reached $65 billion by the end of July, putting it roughly $25 billion ahead of rival OpenAI’s reported pace. Key Points: Anthropic’s run rate reached
Anthropic’s annualized revenue run rate reached $65 billion by the end of July, putting it roughly $25 billion ahead of rival OpenAI’s reported pace.
- Anthropic’s run rate reached $65 billion by the end of July
- OpenAI’s reported annualized pace now exceeds $40 billion
- Second-quarter revenue topped $11.5 billion ahead of a potential IPO
Anthropic told investors about the $65 billion run rate in a routine update as it prepares for a possible public listing, Bloombergreported, citing people familiar with the figures. The figure is not full-year revenue. Run rate estimates annual revenue by extending a company’s current sales pace across 12 months, so it can change quickly as monthly revenue rises or falls.
The July figure was up from about $47 billion in May and roughly $9 billion at the end of 2025. That represents growth of about 622% in seven months, while the May-to-July increase alone was roughly 38%.
Preliminary second-quarter revenue topped $11.5 billion, compared with $787 million a year earlier and $4.73 billion in the first quarter, according to reports citing company figures. Anthropic also posted positive adjusted operating income.
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OpenAI’s annualized revenue run rate has exceeded $40 billion, Bloomberg reported last week, roughly double its pace at the end of 2025. The gap is not directly comparable.
Neither company has publicly detailed whether it calculates run rate in exactly the same way, making the $25 billion difference useful as a directional measure rather than a standardized accounting comparison. That caveat matters for investors.
The figures still sharpen investor attention as both AI companies move toward public markets and face scrutiny over whether rapid demand can translate into durable revenue.
Anthropic confidentially filed a prospectus with the Securities and Exchange Commission in June and has held preliminary investor meetings, while Bloomberg reported that a listing could come as soon as this fall.
Investors cited by the Financial Times expect Anthropic to “float at a valuation of $2 trillion.” Anthropic has not endorsed that valuation.
Anthropic’s recent growth shows how quickly the run-rate picture has shifted, rising from roughly $9 billion at the end of 2025 to $47 billion in May and $65 billion by July. Quarterly revenue followed the same direction. It more than doubled from $4.73 billion in the first quarter to above $11.5 billion in the second.
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