The AI market is undergoing a tectonic shift. Anthropic, one of the key players in the field of artificial intelligence, has demonstrated a stunning financial result: its annual revenue run rate has reached $65 billion. This is $25 billion more than its main competitor, OpenAI, whose figure has stalled at around $40 billion. Such numbers radically change the balance of power in the industry.
Explosive Growth: Impressive Numbers
An analysis of the dynamics shows that the company is on an exponential growth trajectory. As recently as late 2025, Anthropic's annual revenue stood at about $9 billion, and by May of this year it had jumped to $47 billion. Over seven months, the figure grew by 622%. The period from May to July is particularly telling, when revenue added another $18 billion, or 38%.
Quarterly reporting confirms this trend. In the second quarter, the company's revenue exceeded $11.5 billion — 14.6 times more than the $787 million for the same period a year earlier. Compared to the first quarter ($4.73 billion), revenue more than doubled. Notably, Anthropic also turned positive on an adjusted operating basis, which is a rare achievement for fast-growing tech companies.
The Race for Leadership and IPO Preparation
OpenAI's figures, while impressive in their own right ($40 billion annual revenue run rate, double what it was at the end of 2025), now look more modest against Anthropic's successes. Both companies do not officially comment on these numbers, and calculation methodologies may differ, which adds intrigue to assessing the real state of affairs.
Anthropic's strategic moves indicate confidence in its capabilities. As early as June, the company filed a confidential application with the SEC and has already held initial meetings with potential investors. In my estimation, the Wall Street debut could happen as early as this fall. Market expectations are extremely high: some investors forecast a valuation of $2 trillion at the offering, which would make it one of the largest IPOs in the history of the technology sector.
My view: Anthropic's rapid revenue growth is not just luck but the result of precise positioning in the corporate segment, where demand for advanced AI solutions is growing avalanche-like. If the company manages to maintain this pace and successfully complete its IPO, we will witness the formation of a new technology giant capable of challenging not only OpenAI but also established majors like Microsoft and Google. However, investors should remember: the AI race requires enormous capital expenditures, and converting revenue into net profit remains a key challenge.