Anthropic is sprinting toward what could become the largest AI IPO in history, and the investors lining up to participate have one persistent request: show us the receipts.
The Claude maker’s annualized revenue run rate ballooned from roughly $9B at the end of 2025 to over $65B by the end of July 2026.
The numbers behind the frenzy
Anthropic’s preliminary Q2 2026 revenue clocked in at $11.5B, up from $4.73B in Q1 2026. For context, Q2 2025 revenue was $787M. So the company roughly 15x’d its quarterly top line in a single year.
That growth has also pushed the company into unfamiliar territory: profitability. Anthropic posted its first quarterly operating profit of approximately $559M in Q2 2026.
