Anthropic's annualized revenue surpassed $65 billion by the end of July, marking a sharp acceleration from $47 billion in May and roughly $9 billion at the close of 2025, as the artificial intelligence company prepares for a public listing that could value it at $2 trillion or more.
Investors now expect Anthropic to finish 2026 with between $100 billion and $120 billion in revenue, while the company itself projects 2028 revenue could reach $190 billion to $200 billion. The figures arrive after Anthropic raised $65 billion in a May funding round that valued the company at $965 billion, more than doubling its $380 billion valuation from February.
The revenue surge comes amid intensifying competition. Rival OpenAI doubled its own revenue to $40 billion, up from $20 billion at the end of 2025, as the race for AI dominance reshapes the technology sector's financial landscape.