Anthropic's Annualized Revenue Run Rate Hits $65 Billion Ahead of Expected IPO

Anthropic's annualized revenue run rate hit $65 billion at the end of July, CNBC confirmed on Monday, a sevenfold increase from a year ago.

The Claude creator, which has seen its enterprise popularity surge, 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. Bloomberg was first to report the $65 billion figure.

The update comes as Anthropic gears up for what's expected to be a blockbuster IPO. The company confidentially filed its prospectus with the Securities and Exchange Commission in June, and has been holding preliminary meetings with potential investors, though it hasn't officially provided a timeline for a debut.

Anthropic also shared a preliminary revenue figure of $11.5 billion for the second quarter, a 14-fold jump from a year ago, a source said. The company declined to comment.

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, as CNBC reported last week.

Anthropic is looking to justify its $965 billion valuation and show continued momentum to investors, even in the face of 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, in order 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 tense negotiations, but the resolution did little to ease concerns about Anthropic's increasingly fraught 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."