Anthropic expected to top $100 billion run rate, NYT reports

The New York Times reports that Anthropic is expected to reach more than $100 billion in annualized revenue by the end of 2026, up from about $65 billion as of July. Investors are using that growth to justify a potential valuation around $2 trillion, the report says. The lab could publicly release offering financials in coming weeks and start trading as soon as November, according to two people with knowledge of the plans — who stressed the timeline can still change. Executives including CEO Dario Amodei and CFO Krishna Rao have met potential IPO investors in recent weeks, the Times reported.

Company primary still stops earlier: On Jun 1, 2026, Anthropic said it confidentially submitted a draft S-1 to the SEC for a proposed IPO — an option after SEC review, dependent on market conditions; share count and price unset; not an offer to sell. On May 28, 2026, the company said it raised $65 billion Series H at a $965 billion post-money valuation and that run-rate revenue had crossed $47 billion earlier that month. There is no Anthropic post confirming a $100B run-rate or a November listing window.

Why it matters for markets: A secondary jump from a company-stated $47B run-rate toward a reported $100B pace, paired with IPO banker meetings, is private-market pricing for the Claude stack — capital needs for compute vs OpenAI’s later public calendar. Paper marks and people-familiar timing, not a tip.

Stake: Anthropic employees and late-stage holders; OpenAI and other AI IPO calendars; hyperscaler compute partners; public investors who would absorb a mega-cap AI listing.

What’s next: Any Anthropic confirmation of run-rate or public S-1; effective registration and price range; whether November slips.

Sources: Confidential draft S-1, Jun 1, 2026; Series H, May 28, 2026.

Secondaries: NYT Sep 18 path via DT Next syndicate / Bloomberg wraps — people-familiar only.

— Nico Valdez