Anthropic is the fastest growing company in history
Anthropic's record growth and planned listing could redraw the AI leaderboard and test how much investors will pay for AI.
Key takeaways
- Anthropic's annualised revenue run rate passed $65 billion at the end of July, up from $47 billion in May.
- The run rate was just $9 billion at the end of last year, and investors expect between $100 billion and $120 billion by the end of 2026.
- Rival OpenAI has doubled its revenue to $40 billion, up from $20 billion at the end of 2025.
- Both companies have filed confidential IPO paperwork, and Anthropic may seek a public valuation of $2 trillion or more.
Cite or link to this article
Griffin, M. (2026) 'Anthropic is the fastest growing company in history', 311 Institute, 17 August. Available at: https://www.311institute.com/anthropic-fastest-growing-company-revenue-ipo/ (Accessed: 25 October 2026).
Anthropic’s revenue continues to not only grow at an historic pace but also to accelerate. The model maker’s annualised revenue run rate - a projection of a full year’s revenue based on a recent, shorter period -surpassed $65 billion at the end of July, Bloomberg reported on Monday, up from $47 billion in May and just $9 billion at the end of last year. The company’s investors expect it to continue to grow at approximately the same rate for the remainder of the year, finishing 2026 between $100 billion and $120 billion, the Financial Times reported.
The Future and Deep Future of AI 2040, a keynote by futurist Matthew Griffin
Meanwhile, rival OpenAI has doubled its revenue to $40 billion, up from $20 billion at the end of 2025, Bloomberg reported last week.
The two companies may calculate their revenue metrics differently, but Anthropic’s growth rate has captivated investors far more than OpenAI’s has. Both companies have filed confidential IPO paperwork. Anthropic is expected to hit the public markets ahead of OpenAI - possibly as soon as this fall. Anthropic will be seeking a public valuation of $2 trillion or more, according to the Financial Times, which would make it the largest market debut on record.
Anthropic was last valued at $965 billion in late May, when it raised a $65 billion round.
First published on Fanatical Futurist on 17 August 2026.
311 Intelligence
What this means
Analysis by the 311 Strategic Intelligence Unit
The big shift is that AI model makers are now among the largest businesses on earth, before they have even listed. Anthropic's annualised revenue run rate passed $65 billion at the end of July, up from $9 billion at the end of last year, and it may seek a public valuation of $2 trillion or more. Our Starburst data shows why that matters: we rate the AI Capex Growth Engine, spending on AI data centres and chips becoming a leading engine of US economic growth, an Act now trend, and Large Language Models, the technology behind Anthropic and OpenAI, reached wide use in 2024.
What it means by sector.
- Investors and financial services: we track Delayed Stock Listings, firms raising billions privately before they list, as an Act now trend. Anthropic was valued at $965 billion in a private round, so most of its growth has happened before ordinary investors could buy in.
- Public markets: we rate Stock Market Concentration, a handful of AI-linked giants making up a record share of US indices, an Act now trend. A $2 trillion debut, the largest on record, would add to that concentration.
- Every organisation buying AI: revenue on this scale is money flowing from customers to a few model makers. We track the AI Productivity Gap, companies spending on AI while measured gains trail behind, as an Act now trend, so buyers need to prove value for what they spend.
What to do now.
- Review how much of your AI spending goes to one or two model makers, and keep a second supplier tested and ready.
- Measure the output and revenue gains from each AI tool you pay for, not just how many staff use it.
- If you hold index funds or pension assets, check how exposed they are to a small group of AI companies.
The Starburst technologies behind this story
From the 311 Technology Starburst (first product, expected wide use and readiness):
| Technology | Category | First product | Wide use | Action | TRL |
|---|---|---|---|---|---|
| Large Language Models | Intelligence | 2020 | 2024 | Act now | 9 |
| Multimodal Foundation Models | Intelligence | 2023 | 2026 | Act now | 9 |
| Agentic Artificial Intelligence | Intelligence | 2024 | 2028 | Prepare | 8 |
And the trends they feed, from the 311 Trends Starburst:
| Trend | Wide use | Action |
|---|---|---|
| AI Capex Growth Engine | 2025 | Act now |
| Delayed Stock Listings | 2022 | Act now |
| Stock Market Concentration | 2025 | Act now |
| AI Productivity Gap | 2026 | Act now |
How this moves the trend
Record AI growth is not new, but its scale is. In 2023 ChatGPT became the fastest growing app in history, and in 2025 Microsoft and OpenAI agreed a financial definition of AGI based on money earned. The same year Amazon invested billions in Anthropic, and in January 2026 an Anthropic legal plugin triggered a market crash in software stocks. Anthropic's revenue run rate shows that influence turning into revenue.
Go deeper with 311
- The 311 Starburst Centre: every technology and trend above, with timelines and readiness.
- 311 Vantage: ask what the AI boom means for your organisation and get a plain English executive brief.
- The Exponential Technology Codex and the Annual Trends Codex: the technologies and trends reshaping every industry.
- Book a briefing or keynote on the future of AI and its economy for your board or leadership team.
FAQ
Why is Anthropic called the fastest growing company in history?
Anthropic's annualised revenue run rate rose from $9 billion at the end of last year to more than $65 billion at the end of July, and its investors expect it to finish 2026 between $100 billion and $120 billion.
How does Anthropic's growth compare with OpenAI's?
OpenAI has doubled its revenue to $40 billion, up from $20 billion at the end of 2025. The two companies may calculate their revenue metrics differently, but Anthropic's growth rate has captivated investors far more than OpenAI's.
When will Anthropic go public?
Anthropic has filed confidential IPO paperwork and is expected to list ahead of OpenAI, possibly as soon as this autumn. The Financial Times says it will seek a public valuation of $2 trillion or more.
What was Anthropic last valued at?
Anthropic was last valued at $965 billion in late May, when it raised a $65 billion funding round. A $2 trillion listing would make it the largest market debut on record.
About the author
Matthew Griffin Founder, 311 Institute
Matthew Griffin is a multi-award winning Futurist and expert in Disruption and Innovation, Geopolitics, Leadership, and Technology, who NASA have described as a "walking encyclopaedia of the future" and a "futurist Polymath."
Read full bio
Matthew Griffin is a multi-award winning Futurist and expert in Disruption and Innovation, Geopolitics, Leadership, and Technology, who NASA have described as a "walking encyclopaedia of the future" and a "futurist Polymath." 15-time best selling author of the "Codex of the Future" series, Matthew is the Founder and Futurist in Chief of the 311 Institute, a global Futures and Deep Futures advisory firm working with royal households, world leaders, G7, G20, and G77 governments, NGOs, and multi-national mid and mega cap firms to help them explore, shape, and lead the next 50 years of business and society.
An award-winning YouTube creator with over a million followers, with an unrivalled global reach and impact, Matthew is a highly sought-after international keynote speaker, lecturer, and mentor who collaborates with global leaders through the United Nations Alliance of Civilizations (UNAOC) and United Nations General Assembly (UNGA) to shape pivotal initiatives such as the UN’s AI for Humanity program, the United Nations Conference of the Parties (UN COP), and the World Economic Forum in Davos.
As the former Global Head of Cloud, National Security, and Enterprise Sales for companies including Atos, Dell-EMC, and IBM, Matthew has a proven track record of building multi-billion dollar business units and turning failing divisions into market leaders. His ability to identify, analyse, and communicate the implications of hundreds of emerging technologies and trends is unparalleled, and his insights are trusted by many of the world’s most respected organisations, including ABB, Accenture, Adidas, AON, ARM, BCG, Centrica, Citi, Coca-Cola, Dentons, Deloitte, Dow Jones, EY, Google, KPMG, Lego, Legal & General, LinkedIn, Microsoft, PepsiCo, Qualcomm, RWE, Samsung, Siemens AG and Siemens Energy, T-Mobile, UBS, VISA, Walmart, Workday, Worldpay and many others.
Regularly featured in the global media including the AP, BBC, Bloomberg, CNBC, Discovery, Forbes, Khaleej Times, Telegraph, TIME, ViacomCBS, WIRED, and the WSJ, Matthews mission is to help organisations create a fair and sustainable future whose benefits are shared by everyone irrespective of their ability, background, or circumstances.
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