Anthropic has dramatically accelerated its revenue growth. The company's annualized revenue reportedly topped $30 billion "earlier this month," more than triple what it was at the end of last year. This could potentially place Anthropic slightly ahead of OpenAI, though direct comparisons are challenging. The surge is primarily attributed to its offerings like Claude Code and Cowork, alongside increasing token sales from its reasoning models.
This significant momentum is built on a foundation of sharply improving margins. Gross margins reportedly swung from a negative 94 percent in 2024 to a positive 40 percent the following year, during a period when annualized revenue simultaneously jumped from under $1 billion to $9 billion. Such robust performance has enabled Anthropic to set stringent terms for its September 2025 funding round, where investors are expected to commit substantial checks in the hundreds of millions.
Currently, no new funding rounds are planned. If new capital becomes a consideration, it would not be before a board meeting scheduled for May at the earliest. Anthropic's CFO, Krishna Rao, and his team have reportedly already received offers valuing the company at $800 billion, with some investors now confidently projecting a trillion-dollar valuation is within reach for the AI giant.