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18 Aug 2026, 7:56 AMTechCrunch5.5 Anthropic’s annualized revenue surges to $65B

Anthropic's annualized revenue run rate hit $65 billion at end of July 2026, up from $47 billion in May and $9 billion at end of 2025, with investors projecting $100-120 billion by year-end. OpenAI's revenue doubled to $40 billion over the same period. Both companies have filed confidential IPO paperwork, with Anthropic potentially going public this fall seeking a $2 trillion valuation.

Why: The revenue trajectory signals where enterprise AI budgets are concentrating—Anthropic is pulling ahead of OpenAI in run rate, which could influence which model provider startups and builders should bet on for long-term partnership, API stability, and ecosystem investment. An IPO this fall could bring pricing changes, enterprise feature gating, or shifts in API terms for developers currently building on Claude.

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