Anthropic's revenue surge reportedly fuels talk of trillion-dollar valuation

Anthropic has dramatically accelerated its revenue growth. According to The Information, the company's annualized revenue topped $30 billion "earlier this month," more than triple what it was at the end of last year. That could put Anthropic slightly ahead of OpenAI, though the numbers aren't directly comparable. The growth is being driven by Claude Code and Cowork, likely along with rising token sales from reasoning models.

Margins have also improved sharply. Gross margins swung from minus 94 percent in 2024 to plus 40 percent the following year, while annualized revenue jumped from under $1 billion to $9 billion. That kind of momentum let Anthropic set tough terms for its September 2025 funding round, with investors expected to commit checks in the hundreds of millions.

Two people familiar with the company say no new funding rounds are planned for now. If one does happen, it won't be before a board meeting in May at the earliest, The Information reports. CFO Krishna Rao and his team have reportedly already fielded offers valuing the company at $800 billion, and some investors think a trillion-dollar valuation is within reach.