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According to a document, the developer of the AI chatbot Claude, Anthropic PBC, is disclosing to potential investors that its second-quarter revenue grew by at least 14 times year over year. The AI startup recorded preliminary revenue data of more than $11.5 billion in the latest quarter, compared with $787 million in the same period in 2025 and $4.73 billion in the first quarter of this year. The document also shows that Anthropic’s adjusted operating profit in the second quarter of 2026 is positive.

The relevant review is still ongoing, and the data may be revised. An Anthropic spokesperson declined to comment.

As revenue has surged, the company is now competing with long-time rival OpenAI for enterprise customers. Anthropic was once seen as a laggard in the AI race, but its software is now being adopted by an increasing number of professionals to streamline workflows such as coding.

Anthropic’s annualized revenue (run rate) surpassed $47 billion in May. OpenAI’s annualized run rate is reported to be over $40 billion, though the two may calculate run rates differently.

In July, people familiar with the matter said the company is meeting with investors in connection with its potential mega-IPO. Earlier reports said Anthropic has secretly filed for a listing and is working with Morgan Stanley, Goldman Sachs, and JPMorgan Chase to move the IPO forward. Anthropic is seeking to take advantage of robust financing capacity in the public markets to maintain its lead over OpenAI and other competitors—while today’s AI companies are spending hundreds of billions of dollars developing the most cutting-edge models.

If the IPO is completed this fall, Anthropic would not only list before OpenAI, but also ahead of DeepSeek’s debut on public markets—this Chinese AI company is steadily winning more market share. People familiar with the matter said DeepSeek is also preparing for an IPO and may submit its application as early as this year.

The AI race has sparked the IPO market. Data show that, year to date (excluding SPACs and other financial instruments), new stock listings have raised $256.4 billion, setting the highest single-year fundraising total since 2021. $ANTHROPIC