Anthropic's turnaround - are we witnessing the fastest growth in history?
The world of artificial intelligence saw a real earthquake last week, as Anthropic surpassed OpenAI in its annual revenue run rate,
This figure now stands at over $30 billion compared to approximately $25 billion for its biggest competitor,
Just 16 months ago Anthropic reported revenues of only $1 billion!
Now pay attention to the following monstrous figure!
To understand the scale, one can sum up the annual revenues of software giants like Snowflake, Datadog, Cloudflare, MongoDB, and HubSpot...
And $15 billion would still be missing to reach what Anthropic generates today,
Friends, this is a company that did not exist five years ago, and it already brings in twice as much as this entire respectable group combined.
This insane growth shows no signs of slowing down,
At the current pace, the company doubled its revenues from $9 billion at the end of 2025 to $14 billion in February, to $19 billion in March, and to a peak of $30 billion in April,
This represents an additional $11 billion in annual revenues in just one month,
In addition, the company multiplied its revenues tenfold each year for three consecutive years,
If this trend continues, it could reach a revenue run rate of $100 billion by the end of next year,
- a figure higher than the revenues of giant corporations like IBM or Nike.
The main engine behind these numbers is the development tool Claude Code. This tool did not exist 14 months ago and is already generating revenues at a rate of $2.5 billion,
As of today, 4% of all code written on GitHub globally is generated by Claude Code, and this number is expected to jump to 20% by December,
- which means that one out of every five code snippets on Earth will be written by a single model.
To meet these enormous demands, the company is making massive investments in infrastructure:
- Ordering custom chips from Broadcom worth $21 billion.
- Acquiring almost one million units of TPU processors (processors dedicated to artificial intelligence).
- Power consumption of over a gigawatt, an amount sufficient to power a city of 700,000 inhabitants.
All these resources are directed towards "inference" - the process of running the model for users in real-time, and not for training new models.
The company's ability to generate money (monetization) is exceptional,
Anthropic manages to generate $211 per monthly user, compared to OpenAI which draws $25 per weekly user,
This is 8 times higher profit from a more focused customer base,
The numbers become staggering when talking about customer data
Two years ago, the company had only 12 business customers spending over $1 million annually, but today that number stands at over 500, with 8 out of the top 10 Fortune companies being active customers.
The secondary market, where shares of private companies are traded before an IPO, is already reacting accordingly,
Currently, there is a demand of $2 billion to buy Anthropic shares with no sellers in sight, which implies a company valuation of $600 billion,
In contrast, OpenAI shares worth $600 million are sitting on the market with no buyers,
Furthermore, banks like Goldman Sachs charge high fees for Anthropic allocations while they distribute access to OpenAI almost for free.
The company's planned IPO originally aimed for a valuation of $500 billion, but today estimates speak of a valuation that will exceed $800 billion,
With such a growth rate, it might be hard to say the company is overvalued, but the real question is what market cap is given to a company that could reach $100 billion in revenue in less than two years.
And now for the real question
- Who are the big winners from this massive turnaround?
1. Google $GOOGL - (It also holds a significant portion of Anthropic's shares and supplies them with chips)
2. Amazon $AMZN (According to an official announcement from Anthropic - they use chips from Nvidia, Google, and Amazon).
3. Broadcom $AVGO
Artificial intelligence is changing the face of the industry - and tracking the winners is becoming more complicated day by day...