Anthropic's annualized revenue run rate reached $65 billion at the end of July, a sevenfold increase from a year ago, according to CNBC. The company shared the figure in an update to investors over the weekend, according to three sources familiar with the matter who asked not to be named because the details are confidential.
The number reflects how quickly the company has grown. In May, Anthropic said its run rate topped $47 billion, compared to the roughly $10 billion in revenue the company generated for all of 2025. At chief rival OpenAI, the annualized revenue run rate recently hit $40 billion.
The company also shared a preliminary revenue figure of $11.5 billion for the second quarter, a 14-fold jump from a year ago, according to a source familiar with the matter. Anthropic declined to comment.
The figures arrive as Anthropic prepares for what is expected to be a major initial public offering. The company confidentially filed its prospectus with the Securities and Exchange Commission in June and has been holding preliminary meetings with potential investors. It has not officially provided a timeline for a debut.
Anthropic is working to justify its $965 billion valuation and show continued momentum to investors, even after notable disruptions to its business. In June, Anthropic had to temporarily disable access to two of its most advanced models, Claude Fable 5 and Mythos 5, to comply with an export control directive from the government that cited national security authorities. The company restored the models after roughly two weeks of negotiations.
The episode did little to ease concerns about the company's relationship with the Trump administration. Anthropic was blacklisted by the Pentagon earlier this year after discussions about how the military could use its models spiraled out of control.
"We look forward to deepening our government collaboration," Anthropic said in a June blog post. "We're also grateful to our users for bearing with us through this disruption, and to the researchers and industry partners who worked alongside us to make Fable 5 and Mythos 5 available again."
The company has not discussed financials in early IPO investor meetings, according to CNBC reporting.
