What Anthropic's $65 billion revenue run rate means for you

Anthropic, the company behind the Claude chatbot, has told investors its sales are growing far faster than most businesses ever manage, and it's now edging closer to going public.

Anthropic said its "annualised revenue run rate" reached $65 billion at the end of July 2026. That figure means: if the company kept selling at July's pace for a full year, that's roughly what it would earn. It's not the same as money already booked — for the first half of 2026, actual booked revenue was about $16.2 billion.

Still, the trajectory is striking. Anthropic's run rate was about $9 billion at the end of 2025, passed $30 billion in April, topped $47 billion in May, and now stands at $65 billion — around seven times higher than a year earlier, according to CNBC. The company also reported preliminary second-quarter revenue of $11.5 billion, a 14-fold jump from $787 million a year ago, with positive adjusted operating income for the quarter — though not profit under standard accounting rules.

For comparison, rival OpenAI's run rate recently reached about $40 billion, CNBC reported. Anthropic said the growth is being driven by businesses using Claude for coding tasks and for building AI "agents" — software that can carry out multi-step jobs on its own.

Anthropic confidentially filed paperwork for an initial public offering (IPO) in June and has begun early meetings with investors, though it has set no timeline. Its last private valuation, from a $65 billion funding round in late May, was $965 billion. Investors reportedly expect Anthropic's run rate to reach $100-120 billion by the end of 2026, and the company may seek a public valuation above $2 trillion — which would make it the largest stock market debut on record, according to TechCrunch.

If you use Claude for work, especially coding or building automated agents, this growth reflects demand from people like you — Anthropic says that's the main driver behind the numbers. The figures suggest Anthropic has the financial momentum to keep investing in its models and infrastructure, which could mean continued updates and new features.

An eventual IPO doesn't change how you use Claude today, but it would put Anthropic's finances under public scrutiny in a way private company reports aren't.

There's no confirmed date for Anthropic's IPO. The notes suggest investors are watching for the run rate to climb further — to $100-120 billion by year-end, on some estimates — and one report points to projected 2028 revenue of roughly $190-200 billion. None of these later figures are confirmed by Anthropic itself.