Anthropic has surpassed a $65 billion annualized revenue run rate, marking more than a sevenfold increase from roughly $9 billion to $10 billion at the end of 2025 as demand for Claude’s coding tools accelerates. The company generated $4.73 billion in Q1 2026 and more than $11.5 billion in Q2, more than doubling in a single quarter and rising about 14-fold from $787 million in Q2 2025. The run rate had been around $30 billion earlier in 2026 and had cleared $47 billion by late May. Investor projections from August 2026 now suggest annualized revenue could reach $100 billion to $120 billion by year-end, driven primarily by enterprise adoption of Claude Code. Anthropic closed a $65 billion Series H funding round on May 28, 2026, giving it a $965 billion post-money valuation (company value after new capital) and putting it close to the trillion-dollar mark before any public listing. The year-end revenue target is described as an investor projection rather than company guidance, though the quarterly figures have consistently exceeded earlier expectations over the past year.