NEW YORK, NY, August 18, 2026– Anthropic’s annualized revenue run rate topped $65 billion by the end of July, according to people familiar with the matter, marking a roughly sevenfold jump from where the AI company stood less than a year ago and underscoring its rapid ascent ahead of a widely anticipated public listing.
The run rate, which estimates the full-year revenue based on the performance in recent periods, increased from $9 billion in December 2025 to $47 billion in May, then to $65 billion by the end of July. According to sources familiar with the disclosure, Anthropic disclosed the run rate estimate along with other financial metrics in its usual financial reporting process. In addition, the company has disclosed its preliminary revenues of more than $11.5 billion for the quarter recently ended compared to revenues of about $787 million in the same quarter last year.
So far, the company, maker of the Claude family of AI models, hasn’t publicly commented on these metrics.
The investors in Anthropic, the developer of the Claude suite of AI models, expect that the trend would continue for the remaining part of the year, and Anthropic will close out 2026 with an annualized run rate between $100 billion and $120 billion, according to people aware of the internal forecasts. In the long term, Anthropic has told its investors that it is expecting revenues of about $190 billion to $200 billion in 2028.
Growth for Anthropic has been fueled largely by enterprises adopting its Claude AI programming platform, with many organizations keen on using these solutions for automating software development tasks. This trend has contributed positively to Anthropic’s adjusted operating income in recent periods, despite its continued heavy investment in computing hardware for training increasingly advanced models.
Earlier this year, Anthropic privately filed an application to go public via an initial public offering, a process governed by the U.S. Securities and Exchange Commission, which allows some companies to submit IPO registration statements privately before a public debut. However, it is expected that it will file officially later this fall. Such a move would see the organization going public before its main rival OpenAI. Media reports have suggested that the target valuation for the initial public offering could be as much as $2 trillion or more, and would represent one of the biggest market debuts ever, if realized. Anthropic was last valued at $965 billion in late May of this year, when it raised $65 billion through its Series H fundraising round.
In comparison, the annualized revenue run rate of OpenAI has been growing rapidly as well, almost doubling to $40 billion from around $20 billion by the end of 2025. The difference in calculations between the two firms might explain why direct comparison is not entirely possible. However, despite this fact, the development path of Anthropic is being followed with much more attention than that of its larger competitor.
The success of Anthropic has happened in spite of certain troubles with US regulators. Specifically, in June, the company had to block two of its most advanced models due to some concerns of the government regarding national security authorities, according to the export control regulations. Two weeks later, the issue was resolved after the negotiations.
While going through this situation, the firm faced the problem of balancing growth and regulations in a highly demanded industry, while at the same time, the excitement about the prospects of AI developers is not fading away.
It is expected that both Anthropic and OpenAI will face more and more questions regarding their revenue when going public in the future, as the sustainability of the growth pattern of the industry might become one of the biggest questions.
Anthropic’s IPO filing remains confidential, and the company has not independently verified the revenue figures cited here.
