Anthropic and OpenAI’s combined annual recurring revenue now exceeds $115 billion, placing them in the same league as Microsoft whose Productivity and Business Processes segment generates approximately $150 billion annually. Anthropic experienced dramatic growth, rising from roughly $9 billion at the end of 2025 to $65-75 billion by the end of July 2026, while OpenAI reached $40-41 billion over the same period. Both companies raised substantial capital: Anthropic secured $65 billion in a funding round in May 2026 (post-money valuation of $965 billion), and OpenAI raised $122 billion (valuation of $852 billion). Both are widely expected to be preparing for potential IPOs, as enterprise adoption of AI tools has shifted from experimental to essential.
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