Bloomberg reports Anthropic revenue run rate tops $65 billion
This digest was compiled by AI from multiple sources — links to the originals are below.
Bloomberg reported on Monday that Anthropic's annualized revenue run rate surpassed $65 billion by the end of July, according to people familiar with the matter. The figure, shared with investors in a regular update, marks a more than sevenfold increase from the end of 2025 and supports the company's plan for a public listing as soon as this fall.
Key Facts
- Anthropic's preliminary quarterly revenue exceeded $11.5 billion in its latest completed quarter, compared with $787 million in the same period in 2025.
- Anthropic was valued at $965 billion in May after raising a $65 billion Series H round, more than double its $380 billion valuation in February.
- Anthropic is projecting 2028 revenue of roughly $190 billion to $200 billion.
- Investors expect Anthropic to finish 2026 with revenue between $100 billion and $120 billion.
- Anthropic and OpenAI have filed confidential IPO paperwork, with Anthropic expected to debut ahead of OpenAI as soon as this fall.
Revenue Run Rate
Anthropic's annual revenue run rate, a metric that projects full-year revenue from a shorter period, hit $65 billion by the end of July, up from $47 billion in May and about $9 billion at the end of 2025. The company reported preliminary revenue of more than $11.5 billion in its latest completed quarter, compared with $787 million in the corresponding period in 2025. Anthropic also reported positive adjusted operating income for that quarter. Investors expect Anthropic to finish 2026 with revenue between $100 billion and $120 billion for the full year.
IPO and Valuation
Anthropic and OpenAI have filed confidential IPO paperwork, with Anthropic expected to make its Wall Street debut as soon as this fall, ahead of OpenAI. Anthropic is projecting 2028 revenue of roughly $190 billion to $200 billion, with its IPO valuation hinging on those forecasts. Anthropic will be seeking a public valuation of $2 trillion or more, which would make it the largest market debut on record. Anthropic was last valued at $965 billion in late May, when it raised a $65 billion Series H round, more than double its $380 billion valuation in February.
Competitive Position
OpenAI's revenue run rate recently exceeded $40 billion, up from $20 billion at the end of 2025. Anthropic and OpenAI may not measure the run rate metric the same way, Bloomberg noted. Anthropic has gained traction with its Claude coding agent, which helps enterprises with complex tasks such as coding.
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Bloomberg reports Anthropic revenue run rate tops $65 billion
