Artificial intelligence company Anthropic has reached an annualized revenue run rate of more than $65 billion as it prepares for a potential Wall Street debut, Bloomberg reported.

The Claude developer reached the $65 billion pace by the end of July, Bloomberg reported, citing people familiar with the privately held company’s figures.

A revenue run rate projects full-year revenue based on performance over a shorter period and is not the same as actual annual revenue.

The latest figure marks a sharp acceleration for Anthropic, whose revenue run rate topped $9 billion in late 2025 before crossing $47 billion in May.

Anthropic also reported preliminary revenue of more than $11.5 billion in its latest completed quarter, compared with $787 million in the same period in 2025, according to documents seen by Bloomberg. The company also reported positive adjusted operating income for the quarter.

The growth comes as Anthropic prepares for a possible initial public offering. Anthropic and rival OpenAI have filed confidential paperwork to go public, with Anthropic potentially making its Wall Street debut as early as this fall, according to Bloomberg.

OpenAI’s revenue run rate, meanwhile, recently surpassed $40 billion, Bloomberg previously reported, although the companies may calculate the metric differently.

Anthropic declined to comment to Bloomberg.