Anthropic's revenue run rate just hit $30 billio, up from $9 billion at the end of 2025. That's 3.3x growth in four months.
OpenAI was last reported at $25 billion in early March, though both numbers are moving fast. The gap between the two largest AI companies has closed far quicker than anyone expected.
The difference is where the money is coming from. Anthropic generates the bulk of its revenue from enterprise customers, over 1,000 businesses now spend more than $1 million a year on Claude, up from around 500 just two months ago. OpenAI still draws heavily from consumer subscriptions. Both models are working, but enterprise contracts tend to be stickier and higher-margin.
To keep up with demand, Anthropic signed a deal with Google and Broadcom for multiple gigawatts of next-generation TPU capacity coming online in 2027, building on a $50 billion commitment to US-based AI infrastructure announced last year. That's power-plant-scale energy consumption for a single AI company.
A year and a half ago, Anthropic was widely viewed as a safety-focused research lab running a distant second. Now it's neck and neck with the company that kicked off the entire AI boom, and it got there by selling to enterprises, not consumers.
