Anthropic's annualised revenue run rate hits $65 billion in July

answer: Anthropic's annualised revenue run rate reached $65 billion at end-July 2026, up sevenfold.

takeaways:

Anthropic told investors its annualised revenue run rate reached $65 billion at the end of July 2026, according to an investor update reported by CNBC on 17 August. The company said the figure is about seven times higher than a year earlier.

CNBC said Bloomberg first reported the update, which it then confirmed independently.

The run rate stood at about $9 billion at the end of 2025, rose above $30 billion in April and topped $47 billion in May, according to the figures Anthropic shared with investors.

Preliminary second-quarter revenue was $11.5 billion, a 14-fold increase from $787 million a year earlier, Anthropic said. The company reported positive adjusted operating income for the quarter, though not a GAAP profit.

Anthropic attributed the growth to businesses using its Claude models for coding and agent-based work.

CNBC reported that OpenAI's run rate recently reached about $40 billion, putting Anthropic ahead of its closest rival by that measure. TechCrunch noted Anthropic was last valued privately at $965 billion, in a $65 billion funding round in late May.

Anthropic filed a confidential prospectus for an initial public offering in June and has held early meetings with investors, but has set no timeline for a listing. The Financial Times reported that investors expect the company's run rate to reach $100-120 billion by the end of 2026, and that Anthropic may seek a public valuation above $2 trillion, which would make it the largest stock market debut on record. Reuters reported investor projections of roughly $190-200 billion in revenue by 2028.

Anthropic's run rate is a projection based on current revenue levels, not booked revenue; the company's booked revenue for the first half of 2026 was about $16.2 billion. It has not set a date for an IPO or confirmed the valuation figures reported by the Financial Times.