[FLASH] Anthropic's revenue run rate tops $65bn ahead of a listing expected in September or October
Anthropic's annualised run rate passed $65bn by end-July, up from $47bn in May and about $9bn at end-2025, against preliminary Q2 revenue of more than $11.5bn — over 14x the year-ago quarter and more than double Q1's $4.73bn. The company is meeting prospective investors ahead of an IPO expected in September or October, with the valuation said to hinge on 2028 revenue projections of roughly $190-200bn. Note two distinct $65bn figures now attach to this company and should not be conflated: this run rate, and the separate $65bn Series H raised in May at a $965bn post-money valuation.