Anthropic’s annualized revenue surges to $65B

Anthropic’s revenue growth has gone from fast to absurdly fast. Bloomberg reported Monday that the company’s annualized revenue run rate crossed $65 billion at the end of July, up from $47 billion in May and just $9 billion at the end of last year. That’s not a typo. It’s what happens when a model maker starts scaling like a fever dream.

The company hasn’t commented on the report. But its investors are already looking further out, with the Financial Times saying they expect Anthropic to keep growing at roughly the same pace through the rest of 2026 and finish the year somewhere between $100 billion and $120 billion.

OpenAI is growing too, just not with the same investor-magnet effect. Bloomberg reported last week that OpenAI has doubled revenue to $40 billion from $20 billion at the end of 2025. The two companies may be measuring these numbers differently, which matters, but not enough to stop the comparisons.

What really stands out is how the market is treating the race. Anthropic is said to be preparing for a public listing ahead of OpenAI, possibly as soon as this fall, and the Financial Times says it will seek a valuation of $2 trillion or more. That would be the biggest public debut on record. A few months ago, in late May, Anthropic was valued at $965 billion when it raised a $65 billion round. The climb since then has been brutal in the best possible way, at least if you’re sitting on the cap table.