Anthropic's run rate tripled in two months

Anthropic's annualised revenue run rate passed $65 billion by the end of July, up from the $47 billion it disclosed publicly at its May Series H, which itself valued the company near $965 billion. That's roughly $18 billion of incremental annualised revenue added in eight weeks, and Reuters reports the company is guiding investors toward $190 to $200 billion in revenue by 2028 as it heads toward an IPO later this year. Anthropic is also projecting its first quarterly operating profit, around $559 million in Q2, a signal that enterprise Claude deployments are converting into cash, not just contracted commitments. The catch is that run rate is a projection built off recent bookings, not audited trailing revenue, and a company this size hitting these multiples in this little time gives public market investors almost no historical comparable to value it against.