Anthropic tops $11.5 billion in quarterly revenue, reports say

Anthropic generated more than 11.5 billion dollars in revenue in the second quarter of 2026, according to multiple media reports. For comparison: full-year 2025 revenue was roughly ten billion dollars. By May, the company's annualized run rate had already passed 47 billion dollars.

The IPO is taking shape in parallel. CFO Krishna Rao is reportedly holding early preparatory sessions with investors. These are said to focus less on specific financials and more on the Claude model lineup, the origin story of the Claude Code assistant, enterprise strategy, and the composition of the leadership team.

Anthropic confidentially filed an IPO prospectus with the SEC in June 2026. There is no official timeline; some investors expect a listing in October 2026. The most recent private valuation stood at 965 billion dollars in May, and some investors speculate the IPO could value the company above two trillion dollars.

Numbers like these deserve caution: they are reports and investor expectations, not audited statements or official company disclosures. Anthropic itself has not publicly confirmed the quarterly figures.

The direction, however, is clear: with quarterly revenue in the double-digit billions and an active IPO process, Anthropic is cementing its position in the top tier of the AI market — and this fall could bring one of the largest tech listings in history.