Anthropic Revenue Run Rate Hits $65 Billion as IPO Plans Accelerate

Anthropic’s annual revenue run rate surpassed $65 billion by the end of July, highlighting the artificial intelligence startup’s rapid expansion as it prepares for a potential initial public offering later this year.

The latest figure represents a significant increase from the $47 billion annual revenue run rate recorded in May and an extraordinary rise from approximately $9 billion at the end of 2025, according to a person familiar with the matter. The revenue run rate estimates annual performance by extrapolating a company’s current sales levels.

Anthropic reportedly disclosed the updated figure to investors as part of its ongoing financial updates. Bloomberg first reported the latest revenue milestone on Monday.

The strong growth comes as Anthropic seeks to establish itself as one of the leading companies in the increasingly competitive generative AI market. Its Claude AI models and coding agent have gained traction among software developers and businesses, helping the company generate growing enterprise revenue.

Looking further ahead, Anthropic is forecasting revenue of approximately $190 billion to $200 billion by 2028. Those projections are expected to play an important role in determining the company’s valuation during its anticipated IPO, Reuters reported on Friday.

Anthropic has already taken steps toward entering the public markets. The AI company confidentially filed for an IPO earlier this year as it competes with rival OpenAI to reach the stock market amid strong investor demand for artificial intelligence companies.

Investor enthusiasm has also fueled a dramatic increase in Anthropic’s private-market valuation. The company was valued at approximately $965 billion in May after securing $65 billion in a Series H funding round. That valuation was more than double the roughly $380 billion valuation Anthropic held in February.

With Claude adoption expanding, enterprise AI spending rising and IPO preparations underway, Anthropic’s accelerating revenue growth could strengthen its position among the world’s most valuable artificial intelligence companies ahead of a possible public-market debut.