Anthropic just passed OpenAI on revenue

Anthropic just put a $65B run-rate number on the table — well ahead of OpenAI’s roughly $40B pace.
Swipe the cards for the growth path, the head-to-head, why enterprise coding flipped the race, and what IPO season will test next.
Numbers to keep straight
  • Anthropic: ~$65B annualized revenue run rate by end of July 2026; Q2 preliminary revenue above $11.5B
  • OpenAI: ~$40B annualized run rate in mid-August reporting
  • Caveat: run rate is a projected pace, not audited full-year revenue, and the two firms may measure it differently
Sources: 1 · 2 · 3 · 4 · 5

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