Anthropic’s revenue run rate exceeds $65B ahead of IPO

Anthropic's annualized revenue run rate has surpassed $65 billion, more than seven times the $9–10 billion reported at the end of 2025, according to figures circulating ahead of a potential IPO. The company generated $4.73 billion in Q1 2026 and over $11.5 billion in Q2 2026, up from $787 million in Q2 2025. On May 28, 2026, Anthropic closed a $65 billion Series H funding round at a $965 billion post-money valuation, and investor projections suggest annualized revenue could reach $100–120 billion by year-end, driven by enterprise adoption of Claude Code.

The New York Times/Redux Anthropic’s revenue run rate exceeds $65B ahead of IPO The Claude maker's annualized revenue has grown more than sevenfold in a year, putting it on a collision course with a landmark public offering Anthropic has surpassed a $65 billion annualized revenue run rate, according to figures circulating ahead of a potential IPO. That number represents more than a sevenfold increase from roughly $9 to $10 billion at the end of 2025. The numbers behind the headline Anthropic generated $4.73 billion in Q1 2026. Then Q2 arrived and delivered over $11.5 billion, more than doubling Q1 in a single quarter. A year prior, Q2 2025 came in at $787 million, meaning the company roughly multiplied its quarterly revenue by 14 times in twelve months. Earlier in 2026, the annualized run rate stood at around $30 billion. By late May it had cleared $47 billion. Now it has crossed $65 billion. Projections from August 2026 suggest annualized revenue could land between $100 billion and $120 billion by year-end, driven primarily by enterprise adoption of Claude’s coding tools. Claude Code, which became generally available in mid-2025, appears to be the product doing the heaviest lifting. Enterprise customers across industries have folded it into development workflows. A valuation that requires its own context On May 28, 2026, Anthropic closed a $65 billion Series H funding round, landing a post-money valuation of $965 billion. That puts the company within reach of a trillion-dollar figure before it has sold a single public share. Anthropic’s valuation now exceeds OpenAI’s in the private market. The $100 to $120 billion annualized revenue target for year-end 2026 is an investor projection, not company guidance. The underlying quarterly data has consistently outrun earlier projections over the past year. Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy https://cryptobriefing.com/editorial-policy/ .