Anthropic’s business is growing at a pace that is becoming increasingly difficult to ignore. The company behind Claude has pushed its annualized revenue run rate above $65 billion as of late July 2026, according to figures shared with institutional investors.
That is more than seven times the roughly $9 billion run rate Anthropic had at the end of 2025.
The growth has been especially dramatic this year. Anthropic started 2026 with a revenue run rate of around $14 billion. By May, that had jumped past $47 billion. Just two months later, the company had crossed the $65 billion mark.
The acceleration shows just how quickly demand for AI services is turning into real business.
Anthropic reportedly generated more than $11.5 billion in preliminary revenue during its latest completed quarter. A year earlier, the company generated just $787 million during the same period.
Anthropic’s growth comes after adopting Claude #
Companies are increasingly using Anthropic’s AI models for software development, coding and other complex tasks that would traditionally require large teams of employees. Instead of simply testing AI tools on the side, businesses are starting to build them directly into their day-to-day operations.
That is particularly valuable for Anthropic because enterprise customers can generate much larger and more predictable revenue than individual users.
The company is also showing signs that its rapid growth is beginning to improve its financial performance.
Anthropic reportedly recorded positive adjusted operating income in its latest quarter. That is a notable development considering how expensive it is to build and run advanced AI models.
AI companies have to spend enormous amounts on computing power, chips, data centers and infrastructure. Even with strong revenue growth, those costs can quickly eat into profits.
Positive adjusted operating income suggests Anthropic may be starting to benefit from the scale of its business.
The reported $65 billion run rate would also put Anthropic ahead of rival OpenAI, which has recently been reported to have an annualized revenue run rate of around $40 billion.
The comparison comes with a caveat: the two companies may calculate and report their revenue figures differently. Still, the numbers show how quickly Anthropic has managed to close the gap with one of the biggest names in AI.
Growth could also strengthen Anthropic’s case for going public #
Anthropic and OpenAI have both reportedly filed confidential paperwork for potential stock market listings, while Anthropic could make its Wall Street debut as early as this fall.
The company has not publicly confirmed the reported revenue figures. They were shared with institutional shareholders during a regular financial update and later reported by the media.
If the numbers hold, investors will have plenty to pay attention to. Anthropic has already attracted enormous amounts of private capital. In February, the company raised $30 billion in its Series G funding round, reflecting the huge expectations surrounding its future.
A public listing based on a $65 billion revenue run rate could become one of the biggest tech IPO stories in years.
But there is still a major question hanging over the numbers: how long can Anthropic keep growing at this speed?
The AI market is moving incredibly quickly. Competition from OpenAI, Google and other players is intense, while the cost of running increasingly powerful models remains enormous.
For now, however, Anthropic appears to have found a powerful growth engine. Claude is increasingly becoming more than a chatbot people use to ask questions. Businesses are using it to write code, automate workflows and handle increasingly important tasks.
And if enterprise adoption keeps accelerating, Anthropic’s already huge revenue number could look very different again by the time it reaches the public markets.