Anthropic's $65 Billion Revenue Run Rate Puts It Ahead of OpenAI Heading Into IPO
Anthropic is on track to generate annualized revenue exceeding $65 billion based on its July performance, up more than sevenfold from year-end 2025. The company's second-quarter revenue surpassed $11.5 billion, up sharply from $787 million a year earlier, with positive adjusted operating income. OpenAI's annualized revenue run rate recently reached $40 billion, placing Anthropic significantly ahead entering the final stretch before public listings. Anthropic investors expect revenue to reach between $100 billion and $120 billion by the end of 2026 if current growth continues. Both companies have filed confidentially for IPOs with Morgan Stanley, Goldman Sachs and JPMorgan Chase, with Anthropic expected to launch as early as October. The financial acceleration reflects enterprise adoption of Claude for specialized tasks including coding, positioning Anthropic for what could be a record-breaking public debut.