Anthropicの年換算収益は、計画中のIPOに先立ち650億ドルを超える

Why it matters

A $65B run rate gives the Amodeis a powerful IPO valuation anchor, while a public filing will expose the costs and durability behind that pace.

Dario and Daniela Amodei's Anthropic reached an annualized revenue run rate of more than $65 billion at the end of July, up from $9 billion at the end of 2025, Bloomberg reported on Monday.

Bloomberg attributed the figures to unnamed people familiar with Anthropic's finances. Anthropic shared the number in a regular investor update, according to the report.

The distinction between run rate and recognized annual revenue matters. The metric extrapolates a shorter period of sales across a full year. It does not mean Anthropic collected $65 billion during the preceding 12 months, and it gives investors no direct reading on margins, customer concentration or the durability of current usage.

Even with those limits, the acceleration strengthens the financial case Anthropic is preparing to take to public investors. Anthropic confidentially submitted a draft registration statement to the Securities and Exchange Commission on June 1st, giving the AI developer the option to proceed with an initial public offering after the regulator completes its review. Anthropic has not set the number of shares or an offering price.

A fast reset of the IPO math

Anthropic's July run rate was about 38% above the $47 billion pace Anthropic disclosed in early May. On May 28th, Anthropic raised $65 billion in a Series H led by Altimeter Capital, Dragoneer, Greenoaks and Sequoia Capital, setting a $965 billion post-money valuation.

That private valuation equals roughly 15 times the newly reported revenue run rate. The comparison is imperfect because the valuation was set in May and run rate is an annualized snapshot rather than audited full-year sales. It still provides the clearest available frame for the expectations already embedded in Anthropic's price.

The May financing was itself twice unusual: the $65 billion round matched the revenue pace Anthropic would reach two months later, and it followed a $30 billion Series G completed in February. Anthropic said the newer capital would fund safety and interpretability research, product development and additional computing capacity.

Compute is the central cost in the growth story. Anthropic must keep securing chips, data center capacity and energy while serving expanding demand for Claude and its coding products. Run-rate revenue shows the speed of that demand. Anthropic's eventual public registration statement will show how much cash is required to sustain it.

The Amodeis' research lab becomes an IPO candidate

The scale is far removed from the business Dario and Daniela Amodei introduced in 2021. The siblings, now Anthropic's chief executive and president, started Anthropic with a group whose previous research included GPT-3, scaling laws, interpretability and learning from human preferences.

When Anthropic announced its $124 million Series A in May 2021, Dario Amodei said Anthropic would concentrate on the research needed to build more capable, reliable and steerable AI systems. Anthropic had yet to establish the commercial engine that now supports a reported annualized revenue pace larger than many established software vendors.

Anthropic remains organized as a public benefit corporation. Its stated purpose includes developing advanced AI for long-term public benefit, and its governance includes a Long-Term Benefit Trust with authority over the selection of some board members. That structure will accompany Anthropic into the public markets if the offering proceeds.

The $65 billion run rate gives the Amodeis a stronger number for that transition, though the eventual prospectus will carry more weight than an investor update. Public shareholders will be able to examine recognized revenue, operating expenses, cash flow and risk factors together rather than extrapolating from a single month.

For now, the pace is clear. Anthropic moved from a $9 billion run rate at the end of 2025 to more than $47 billion in May and $65 billion by the end of July. The next test is whether Anthropic can turn that acceleration into audited growth without letting the cost of producing and serving increasingly capable models consume the gains.