Anthropic disclosed to investors that its annualized revenue run rate reached $65 billion at the end of July, representing a significant acceleration from the prior-year period. The company, which develops the Claude artificial intelligence platform, shared this figure in a weekend update to investors, with the information confirmed by multiple sources familiar with the matter.
The AI firm also reported preliminary second-quarter revenue of $11.5 billion, marking a 14-fold increase compared to the same quarter a year prior. Earlier in the year, Anthropic had indicated an annualized run rate of $47 billion in May, following annual revenues of approximately $10 billion for 2025. These figures place Anthropic ahead of rival OpenAI, which recently achieved an annualized revenue run rate of $40 billion.
Anthhropic is in the latter stages of preparing for what is expected to be a substantial initial public offering. The company submitted a confidential prospectus to the Securities and Exchange Commission in June and has been conducting preliminary investor meetings, though no official timeline for the listing has been provided. The company’s $965 billion valuation reflects investor expectations for sustained growth and market leadership in the generative AI sector.
The company’s momentum has faced headwinds from regulatory and government relations challenges. In June, Anthropic temporarily restricted access to two of its most advanced models, Claude Fable 5 and Mythos 5, in response to a government export control directive citing national security concerns. After approximately two weeks of negotiations, the models were restored to availability. Additionally, Anthropic faced a Pentagon blacklisting earlier in the year following discussions regarding military applications of its technology.
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