---
title: Anthropic's Revenue Run Rate Reportedly Hits $65B
description: CNBC reports Anthropic told investors its annualized revenue run rate hit $65B in July, up sevenfold since late 2025, ahead of a planned IPO.
date: 2026-08-17T00:00:00.000Z
category: big-tech
tags: anthropic, ipo, earnings
---

Anthropic told investors its annualized revenue run rate climbed to $65 billion in July,
[CNBC reported](https://www.cnbc.com/2026/08/17/anthropic-says-annualized-revenue-climbed-to-65-billion-in-july.html)
on August 17, a more than sevenfold jump since the close of 2025 and a figure that's intensifying
comparisons with OpenAI ahead of both companies' expected IPOs.

## The trajectory

Per CNBC's reporting, Anthropic's run rate moved from roughly $9 billion at the end of 2025 to
more than $30 billion in April, $47 billion in May, and $65 billion by the end of July. The
company also shared a preliminary second-quarter revenue figure of $11.5 billion with investors,
according to the same reporting.

## How it compares to OpenAI

OpenAI's most recently disclosed run rate is $40 billion, from an internal message by co-founder
Greg Brockman that Axios reported separately. The two companies may calculate "run rate"
differently, which complicates a direct comparison, but the gap is large enough that several
outlets framed it as Anthropic overtaking OpenAI on this specific metric.

## The IPO context

Anthropic is reportedly meeting with potential new investors ahead of a planned IPO expected in
September or October, working with Morgan Stanley, Goldman Sachs, and JPMorgan on the offering.
The company reached a $965 billion valuation after a funding round in May; the new revenue figures
give it a fresh data point to defend that number to prospective public-market investors.

## Why it matters

None of this comes from an Anthropic press release or a regulatory filing. It's sourced to what
the company told investors privately and what reporters subsequently obtained, so the exact figure
should be read as investor-communicated, not audited. That caveat aside, the trajectory itself,
not just the single $65 billion number, is the more durable signal: five straight quarters of
roughly doubling revenue is harder to fabricate or spin than one flattering data point, and it's
the kind of growth curve that makes a September or October IPO timeline plausible rather than
aspirational.

What to watch: whether either company files IPO paperwork before that window closes, and whether
audited figures match what's already been shared with investors.

More [Big Tech & Industry Moves](/big-tech/) coverage, or everything tagged [anthropic](/tag/anthropic/).