Anthropic reports $65 billion annualized revenue run rate amid IPO plans

Anthropic announced that its annualised revenue run rate hit $65 billion at the end of July, a seven‑fold jump from the previous year, according to a CNBC report on Monday. The AI‑model maker, best known for its Claude chatbot, disclosed the figure in a confidential update to investors over the weekend, with Bloomberg breaking the news first. The company has filed a prospectus with the SEC in June and is holding preliminary meetings with potential investors, though it has not set a date for an initial public offering.

The company also shared a preliminary revenue of $11.5 billion for the second quarter, a 14‑fold increase from the same period last year. In May, Anthropic said its run rate had topped $47 billion, compared with roughly $10 billion in revenue for all of 2025. For context, OpenAI’s annualised run rate recently reached $40 billion, according to CNBC. These numbers are intended to support Anthropic’s $965 billion valuation as it seeks to demonstrate continued momentum to investors.

Despite the impressive growth, Anthropic has faced disruptions that could affect its trajectory. In June, the company temporarily disabled two of its most advanced models, Claude Fable 5 and Mythos 5, to comply with a government export‑control directive citing national‑security concerns. The models were restored after about two weeks of negotiations, but the incident highlighted tensions with the Trump administration. Earlier this year, the Pentagon blacklisted Anthropic after discussions about military use of its models spiralled out of control. In a June blog post, the company pledged to deepen government collaboration and thanked users, researchers, and industry partners for their patience.

As Anthropic prepares for a high‑profile IPO, it must balance rapid revenue growth with regulatory scrutiny. The firm’s ability to navigate export controls and maintain a stable relationship with the U.S. government will be closely watched by investors. The forthcoming public offering will test whether the company can translate its soaring run rate into sustainable profitability while managing the risks that come with operating at the forefront of AI technology.