Anthropic’s annualized revenue surges to $65B

Anthropic’s annualized revenue run rate reportedly reached $65 billion at the end of July, up from $47 billion in May and $9 billion at the end of last year. Investors expect the AI model maker to end 2026 at $100 billion to $120 billion in annualized revenue, while rival OpenAI has reportedly grown to $40 billion.

The reported surge suggests enterprise demand for frontier AI models is scaling faster than many expected, giving Anthropic momentum ahead of a possible public listing. A potential $2 trillion valuation would test whether public markets are ready to price AI labs more like core infrastructure companies than traditional software firms.