- Bloomberg reported that Anthropic’s annualized revenue run rate has exceeded $65 billion, more than seven times its pace at the end of 2025. [1] - Anthropic publicly confirmed a run rate above $47 billion in May, making the newer figure a source-reported update rather than a company-disclosed result. [2] - The figure is a run rate based on recent performance, not booked annual revenue, bookings or a measure of sustained profitability. [1][3] - Anthropic says about 80% of its revenue comes from business customers, with sales running through direct contracts, cloud marketplaces and enterprise subscriptions. [4] - Anthropic has raised $65 billion at a $965 billion valuation and filed a confidential draft S-1, but has not set an IPO date, price or share count.
[5] Anthropic’s annualized revenue run rate has climbed above $65 billion, according to figures reported by Bloomberg, putting the Claude maker on a pace more than seven times higher than at the end of 2025 and intensifying the race with OpenAI to reach public markets. [1]
The number is a projection based on Anthropic’s recent sales pace. It is not the same as $65 billion of revenue collected over the previous 12 months, and it does not by itself establish the company’s bookings, cash flow or profitability. Anthropic’s latest public figure was a run rate above $47 billion, disclosed in its May 28 funding announcement. [2]
A run rate, not a full-year result #
Bloomberg-reviewed documents, as reported by El País, showed preliminary revenue above $11.5 billion in Anthropic’s most recently completed quarter, compared with $787 million in the same quarter of 2025. Multiplying the latest quarterly figure by four produces roughly $46 billion, so the reported run rate above $65 billion reflects a more recent pace of sales or usage rather than a simple annualization of that quarter. [6]
That distinction is especially important for a company whose sales include usage-based API services and coding tools. A run rate can move faster than booked revenue when customer usage changes. Anthropic has not publicly released audited financial statements or a reconciliation explaining how the $65 billion figure was calculated in the latest report. [1]
Earlier investor projections called for $10.9 billion of second-quarter revenue and $559 million of operating profit, according to Financial Times reporting summarized by TechRepublic. Those were projections at the time; operating profit is not the same as net income or proof of sustained profitability after infrastructure, research and other costs. [7]
Enterprise demand is driving the surge #
Anthropic says approximately 80% of its revenue comes from business customers. It identifies three main channels: direct API contracts, cloud-reseller agreements through Amazon Bedrock, Google Vertex AI and Microsoft Azure Foundry, and team and enterprise subscriptions. The company also says the number of customers spending more than $100,000 annually has grown sevenfold in the past year, while eight of the Fortune 10 use Claude. [4]
Anthropic has emphasized coding as a major source of demand. In its February funding announcement, the company said Claude Code’s revenue run rate had exceeded $2.5 billion and that enterprise use accounted for more than half of Claude Code revenue. It also said business subscriptions to the product had quadrupled since the beginning of 2026. [8]
The company’s latest reported pace now compares with an OpenAI run rate of $40 billion, according to an internal message shared by OpenAI co-founder Greg Brockman, as cited by Axios. The figures are not directly comparable: both are annualized rates, but the companies disclose them privately and do not provide the same accounting detail. [1]
Funding is complete; the IPO is still conditional #
Anthropic announced a $65 billion Series H financing on May 28 at a $965 billion post-money valuation. That is a private-market financing valuation, not a public equity-market value, and it does not mean Anthropic would list at $1 trillion. [2]
The company submitted a confidential draft registration statement for a proposed IPO to the Securities and Exchange Commission on June 1. Anthropic said the filing gives it the option to go public after SEC review, while stressing that the offering depends on market conditions and other factors. It has not disclosed the number of shares, the price range or a launch date. [5]
OpenAI also filed confidential IPO paperwork in June, putting the two companies on a possible path toward public-market comparisons. The Stanford AI Index has cautioned that annualized revenue estimates for frontier-model companies can differ from recurring-revenue calculations and vary in reliability because the underlying disclosures and accounting practices are inconsistent. [3]
The latest Anthropic figure is best read as evidence of extraordinary sales momentum, particularly in enterprise software and coding, rather than as a finalized income statement. A public IPO prospectus would provide a fuller test of the claim against reported revenue, cloud-partner arrangements, operating costs and profitability.
Companies mentioned #
Further sources #
[[1] Axios, citing Bloomberg, reported that Anthropic’s annualized revenue run rate … ↗](https://www.axios.com/2026/08/17/anthropic-revenue-run-rate-ipo-openai)
[[2] Anthropic’s May 28 Series H announcement said its run-rate revenue had crossed … ↗](https://www.anthropic.com/news/series-h)
[3] Stanford’s 2026 AI Index described annualized revenue estimates as directional … ↗
[[4] Anthropic’s State of Claude materials described its business-customer mix, ente… ↗](https://www.stateofclaude.com/whats-new/topics/revenue-and-funding)
[[5] Anthropic announced on June 1 that it had confidentially submitted a draft S-1 … ↗](https://www.anthropic.com/news/confidential-draft-s1-sec)
[6] El País reported Bloomberg’s figures for Anthropic’s preliminary quarterly reve… ↗+2 more
The stories that matter, in one email. Free — unsubscribe anytime.