Anthropic could pass 65 billion dollars of annual revenue on its current run rate, growth of more than seven times the level it was at the end of last year. According to Bloomberg, citing people close to the matter, the artificial intelligence company's annualised revenue rate reached 65 billion dollars at the end of July, putting it roughly 25 billion ahead of where OpenAI stood over the same period.
The quarterly detail is steeper still. Preliminary accounts seen by Bloomberg put second quarter revenue above 11,5 billion dollars, more than fourteen times the same period of 2025, when the figure was 787 million. The first quarter of this year came in at 4,73 billion, so the business roughly doubled again in three months.
That acceleration is what carries the company, founded in 2021 by Dario and Daniela Amodei, towards a listing. Forbes estimates the pair's fortune at 15,5 billion dollars. The Financial Times has reported that several investors believe Anthropic could debut on Wall Street as early as October at a valuation above 2.000 billion dollars, more than double the 965 billion it reached in May through a Series H round of 65 billion.
The 2.000 billion figure is a calculation by shareholders rather than a formal target the company has set, and that distinction is worth keeping. A placement at that level would rank among the largest listings in the history of the financial markets, putting a company five years old in the same capitalisation bracket as long established giants and above the SpaceX listing in June.
The number underneath all of it is corporate adoption. Ramp AI Index data for June had Anthropic in use at 42,4 percent of the companies it tracks against 39,5 percent for OpenAI, consolidating a lead that opened in April.
A listing still has to reckon with several things that could go against it. There is uncertainty about whether valuations at this level are economically sustainable, the cost of the compute infrastructure the models require, and price pressure from Chinese and open source alternatives. The regulatory variable remains too, as the temporary suspension of the Claude Fable 5 and Claude Mythos 5 models showed, imposed by American authorities in June in relation to foreign customers and lifted again in July.