Anthropic is now pacing to generate more than $100 billion in annual revenue, a figure that represents a 50% increase from two months ago, according to a report from the New York Times published Friday, Sept. 18, 2026. The company’s growth has accelerated rapidly, with the current revenue pace exceeding its year-end 2025 levels by more than 10x. This surge is attributed to broad enterprise adoption fueled by the company’s Cowork and Claude Code products.
The growth trajectory suggests that by the end of 2026, Anthropic could rank among the ten largest American companies by market capitalization and the 50 largest by revenue. The company did not exist six years ago.
Path to Public Listing on Nasdaq
Anthropic is pursuing an initial public offering (IPO) despite ongoing controversy regarding the pace of frontier model development and AI safety. While OpenAI CEO Sam Altman stated in a Sept. 12 interview with Fortune that his lab will remain private past the end of 2026, Anthropic has already begun the process of going public.
According to Business Insider, the company has selected Nasdaq for its listing. Anthropic filed confidentially with the Securities and Exchange Commission on June 1, 2026. The process is reported to transition from confidential preparation to a public sequence in mid-October 2026, with the goal of completing the listing before the U.S. midterm elections on Nov. 3, 2026.
The potential IPO could value the company at $2 trillion or more, which is approximately 43 times its annualized second-quarter revenue. Anthropic is seeking up to $100 billion in the offering.
Financial Performance and Profitability
Under the leadership of CEO Dario Amodei, the company has seen a steep revenue curve. From April through June 2026, Anthropic reported revenue of $10.9 billion and an operating profit of approximately $559 million. Second-quarter revenue of more than $11.5 billion represented a roughly 14-fold increase over the $787 million earned during the same period in 2025. This followed a first-quarter revenue of $4.73 billion.
The company’s annualized run rate has climbed steadily throughout 2026:
- End of 2025: $9 billion
- May 2026: $47 billion
- End of July 2026: Approximately $65 billion
According to the Financial Times, Anthropic informed a small group of shareholders that it expects positive adjusted operating income for a second straight quarter for the period ending Sept. 30, 2026. Additionally, gross margins exceeded 80% before the cost of training models and revenue-sharing with distribution partners like Amazon.
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