Anthropic’s annual revenue run rate hits $65 billion ahead of fall IPO

By NewSunSEO | August 18, 2026

Anthropic’s annualized revenue run rate has climbed to $65 billion by the end of July, up from roughly $9 billion at the close of 2025, according to reporting first detailed by Bloomberg. The figure puts the artificial intelligence lab on track for an initial public offering in the fall of 2026, ahead of rival OpenAI, which carries a $40 billion run rate of its own for comparison.

How fast the run rate grew

The $65 billion figure represents roughly a sevenfold increase in seven months. The growth shows up clearly in the quarterly numbers as well. Second quarter revenue came in at more than $11.5 billion, more than 14 times the same quarter a year earlier, and more than double the $4.73 billion recorded in the first quarter.

How Anthropic compares with OpenAI and DeepSeek

Anthropic is not the only major AI lab eyeing the public markets. OpenAI and DeepSeek are also expected to pursue stock listings, but Anthropic’s timeline, if it holds, would put it first to market among the three. The $65 billion run rate is well above OpenAI’s $40 billion figure cited for comparison, reflecting the steep curve Anthropic has logged through the first half of the year.

What the IPO timeline looks like

Bloomberg’s reporting points to a fall 2026 listing, which would be one of the most closely watched AI debuts to date. No valuation, share price, or investor details have been disclosed in the reporting to date, and none should be inferred from the run rate alone. Revenue run rates are annualized snapshots of the most recent month, not annualized full-year results, so they tend to overshoot steady-state revenue until growth slows.

Why the numbers matter for enterprise buyers

Anthropic sells access to its Claude family of models to businesses through API usage and seat-based products, and the run rate reflects how quickly those contracts are scaling. A sevenfold jump in under a year suggests that enterprise procurement budgets are shifting in meaningful ways toward frontier-model providers, and that buyers are committing to multi-month and multi-year commitments rather than short pilots.

What to watch next

The next milestones are the third quarter revenue print and the formal IPO filing. If the second quarter’s $11.5 billion pace holds or accelerates, the $65 billion run rate could climb further before the company reaches the public market. Investors will also be watching for any disclosed customer concentration, retention rates, and the share of revenue tied to API calls versus subscriptions, all of which typically surface in S-1 filings once the IPO process begins in earnest.

FAQ

What is Anthropic’s current annual revenue run rate?

Anthropic’s annualized revenue run rate reached $65 billion by the end of July 2026, up from about $9 billion at the end of 2025.

When is Anthropic expected to go public?

Anthropic is expected to pursue an IPO in the fall of 2026, ahead of OpenAI and DeepSeek, both of which are also expected to list on public markets.

How does Anthropic’s revenue compare with OpenAI’s?

At $65 billion, Anthropic’s run rate is higher than OpenAI’s $40 billion run rate cited for comparison, reflecting Anthropic’s faster recent growth.