Anthropic’s annualized revenue run rate reportedly reached $65 billion by the end of July, highlighting explosive growth in demand for its Claude AI products. The figure is roughly seven times higher than a year earlier.

The new run rate is also significantly above the $47 billion Anthropic reportedly reached in May. Preliminary second-quarter revenue came in at about $11.5 billion, representing roughly 14-fold growth from the same period last year.

Much of Anthropic’s expansion has been driven by enterprise customers using Claude for coding, research, automation and other business applications. The company has increasingly positioned itself as a premium provider focused heavily on corporate use cases.

Anthropic’s reported $65 billion annualized revenue run rate also puts it ahead of OpenAI’s roughly $40 billion run rate. That gap suggests Anthropic may be gaining significant ground in the race to monetize generative AI.

The growth comes as Anthropic moves closer to a potential IPO. The company confidentially submitted a draft S-1 registration statement to the SEC in June, giving it the option to go public depending on market conditions.

Anthropic was valued at about $965 billion in its latest major funding round. Reports have suggested a future IPO could potentially command an even higher valuation if revenue growth continues.

The company still faces regulatory and government-related challenges surrounding the use and export of its AI models. Those issues could become increasingly important as Anthropic expands globally.

Looking further ahead, Anthropic reportedly expects revenue to reach between $190 billion and $200 billion by 2028, setting an extremely aggressive growth target ahead of a possible public-market debut.