Anthropic Files Confidential IPO as Revenue Hits 65 Billion Dollar Run Rate

Anthropic filed a confidential S-1 registration statement for an initial public offering on June 1, 2026, with market expectations pointing toward a potential listing in late 2026, possibly as early as October.

The company's annualized revenue run rate reached 65 billion dollars by the end of July 2026, up from 47 billion in mid-May when it disclosed figures alongside its Series H funding round. Second quarter 2026 revenue exceeded 11.5 billion dollars, and the company reported its first operating profit of 559 million dollars, surpassing investor projections.

Claude Code has been a significant revenue driver. The product grew from an annualized run rate of 500 million dollars in September 2025 to approximately 8 billion by May 2026, with estimates suggesting it reached 15 billion by August 2026. Anthropic now has more than 1,000 customers spending at least 1 million dollars annually.

Analysts project Anthropic's annualized revenue could reach 140 billion dollars by May 2027. Bankers are reportedly underwriting the IPO based on projected 2028 revenues in the range of 190 billion to 200 billion dollars. Some median estimates for a 90-day post-IPO market capitalization reach approximately 1.85 trillion dollars.

The IPO preparations come as Anthropic also launched Theseus Infrastructure, a joint venture with Macquarie Asset Management and GIC to fund and operate purpose-built data centers. Broadcom is separately negotiating a debt-financing package potentially reaching 100 billion dollars to support AI infrastructure development involving Anthropic and other companies.

OpenAI has officially committed to a public listing in 2027, while Palantir reported 93 percent revenue growth in its second quarter, signaling strong enterprise demand for AI products.