Anthropic’s revenue surge puts OpenAI under pressure in enterprise AI race

OpenAI’s revenues increased by 18% in the second quarter to reach $6.7 billion, while Anthropic’s revenue doubled to more than $11.6 billion, according to the Wall Street Journal’s report on August 18.

The annualized revenue run rates demonstrate an even bigger difference in revenues between OpenAI and Anthropic. OpenAI’s revenue growth increased from about $20 billion by the end of 2025 to more than $40 billion, while Anthropic has jumped from around $9 billion in revenue to over $65 billion in late July.

Run rate is not the same as audited annual revenue, and private companies don’t publish their financials in a manner similar to public companies. However, investors are still interpreting the disparity as an indication of the movement of enterprise AI demand.

The implications reach beyond the two companies. The anticipated initial public offering of Anthropic may occur even before that of OpenAI, with investment bankers saying the first major AI IPO will help set a precedent for the entire industry, according to Cryptopolitan. This means OpenAI’s slower rate of development gives relevance to every AI company trying to justify its very high valuation.

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