Anthropic on track to top $100 billion revenue pace ahead of potential IPO

San Francisco: Anthropic is on track to exceed $100 billion in annualised revenue by the end of 2026, a remarkable acceleration that could strengthen the artificial intelligence company’s case for what may become one of the largest stock market debuts on record.

The figure would be up from $65 billion in annualised revenue in July, an increase of more than 50 per cent in roughly two months, according to The New York Times, which cited people familiar with the company’s finances. 

The $100 billion figure is an annualised revenue run rate, a projection of what the company would generate over a full year if its current sales pace were maintained, rather than $100 billion of revenue already booked during 2026.

Anthropic’s growth has accelerated dramatically over the past year. Its annualised revenue run rate stood at about $9 billion at the end of 2025 before rising to $47 billion in May and more than $65 billion by the end of July. 

Much of that expansion has been driven by business customers adopting Anthropic’s Claude products, particularly its coding tool Claude Code and its workplace-focused Cowork product. Anthropic said in May that enterprise adoption had continued to expand rapidly, with Claude Code and Cowork becoming increasingly important to customers’ daily work. 

The company is now pushing ahead with plans for an initial public offering despite a widening debate inside the technology industry over the pace and safety of increasingly powerful AI systems.

Anthropic could release financial documents for the offering within weeks, potentially allowing its shares to begin trading as soon as November, according to The New York Times. Investors discussing the potential flotation have been considering a valuation of about $2 trillion, although the timetable and valuation could still change. 

At that valuation, Anthropic would immediately rank among the world’s most valuable publicly traded companies, an extraordinary position for a business founded less than six years ago.

Going public would also give Anthropic access to substantially more capital as it faces soaring costs for computing infrastructure needed to train and operate increasingly advanced AI models. Investors expect the company’s available computing capacity to continue expanding sharply over the next year. 

The potential IPO comes as Anthropic Chief Executive Dario Amodei has called for a slower and more deliberate approach to the development of advanced AI systems, warning that the industry needs stronger safeguards as model capabilities increase. 

This position has created an unusual tension for the company: Anthropic is simultaneously warning about the risks of rapid AI development while preparing to ask public-market investors to back one of the fastest-growing businesses in technology.

OpenAI, meanwhile, has taken a different path. Chief Executive Sam Altman said the company would not pursue an IPO in 2026, citing the need to focus on AI safety and alignment. Reuters reported that OpenAI was instead looking towards a possible 2027 listing.