Anthropic’s revenue run rate exceeds $65B ahead of IPO

Anthropic has surpassed a $65 billion annualized revenue run rate, according to figures circulating ahead of a potential IPO. That number represents more than a sevenfold increase from roughly $9 to $10 billion at the end of 2025. The numbers behind the headline Anthropic generated $4.73 billion in Q1 2026. Then Q2 arrived and delivered over $11.5 billion, more than doubling Q1 in a single quarter. A year prior, Q2 2025 came in at $787 million, meaning the company roughly multiplied its quarterly revenue by 14 times in twelve months. Earlier in 2026, the annualized run rate stood at around $30 billion. By late May it had cleared $47 billion. Now it has crossed $65 billion. Projections from August 2026 suggest annualized revenue could land between $100 billion and $120 billion by year-end, driven primarily by enterprise adoption of Claude’s coding tools. Claude Code, which became generally available in mid-2025, appears to be the product doing the heaviest lifting. Enterprise customers across industries have folded it into development workflows. A valuation that requires its own context On May 28, 2026, Anthropic closed a $65 billion Series H funding round, landing a post-money valu...