Anthropic's revenue run rate tops $65 billion as IPO filing emerges
As of late July, Anthropic announced an annualized revenue run rate that exceeds $65 billion, marking a remarkable sevenfold increase since late 2025. The company reported preliminary second-quarter earnings of over $11.5 billion, a significant rise from last year’s $787 million, along with a positive adjusted operating income. Anthropic has confidentially initiated an IPO process, collaborating with Morgan Stanley, Goldman Sachs, and JPMorgan Chase, with the possibility of trading commencing this fall. Following a funding round in May, the company’s valuation soared to $965 billion, outpacing OpenAI's $40 billion run rate. However, in June, the Pentagon identified Anthropic as a supply-chain risk, cautioning about potential revenue impacts. The firm temporarily withdrew Claude Fable 5 and Mythos 5 due to government export restrictions but reinstated access after two weeks.
Key facts
- Anthropic's annualized revenue run rate exceeded $65 billion as of late July.
- This represents more than a sevenfold jump since the close of 2025.
- Preliminary second-quarter revenue surpassed $11.5 billion, up from $787 million a year earlier.
- Anthropic reported positive adjusted operating income for the quarter.
- Anthropic filed confidentially for an IPO with Morgan Stanley, Goldman Sachs, and JPMorgan Chase.
- Anthropic could begin trading as early as this fall, before OpenAI.
- Anthropic's valuation reached $965 billion after a May funding round.
- In June, the Pentagon designated Anthropic a supply-chain risk over AI safety guardrails.
Entities
Institutions
- Anthropic
- Bloomberg
- Morgan Stanley
- Goldman Sachs
- JPMorgan Chase
- CNBC
- OpenAI
- Axios
- Pentagon
- Financial Times
- Wall Street Journal
Sources
- Quartz —
- TechCrunch AI —
- TechCrunch AI —