Anthropic's annualized revenue run rate reportedly exceeded $65 billion after preliminary second-quarter revenue topped $11.5 billion. Preliminary figures point to rapid enterprise adoption ahead of a possible IPO, but the comparison with OpenAI uses nonstandardized measures. Axios reported figures from Bloomberg showing more than $11.5 billion in preliminary Anthropic revenue during the second quarter.
The amount was more than 14 times the year-earlier quarter and more than double the $4.73 billion reported for the first quarter. The $65 billion run rate was reached at the end of July and annualizes a short period rather than reporting a completed year. The growth rate is the verified claim reported from private materials, not a guarantee of future sales. Annualizing July gives a useful pace indicator but magnifies any temporary surge in contracts or usage.
OpenAI's latest internal revenue run rate was reported at $40 billion, but Axios cautioned that the companies may measure revenue differently. Morgan Stanley, Goldman Sachs and JPMorgan are working with Anthropic on a possible September or October offering, according to Axios. Both Anthropic and OpenAI are pursuing inference partnerships and chip strategies intended to lower the cost of serving model queries. The OpenAI comparison is directionally informative and numerically fragile. Without consistent definitions of gross versus net revenue, contracted versus consumed usage and reseller arrangements, a ranking should remain provisional.
Enterprise contracts can produce large revenue quickly but may include capacity, reseller and accounting terms that complicate comparisons. Run rate extrapolates current pace and can fall if growth, pricing or utilization changes.
An IPO would provide capital for compute while exposing the company to public reporting and margin scrutiny. The current evidentiary limit is that the figures were preliminary and reported through investor materials rather than audited public filings; cross-company methodology was not standardized.
The next factual record will come from Anthropic's IPO filing and audited statements and gross-margin, compute-cost and customer-concentration disclosures. Until those records appear, the account remains bounded by the cited reporting, measurements and explicitly attributed statements.