Pre-IPO Milestone Achieved! Anthropic's Q2 Revenue Soars 14x, Adjusted Operating Profit Turns Positive

Anthropic has informed potential investors that its second-quarter revenue has surged to at least 14 times that of the same period last year. Moreover, the company has revealed that its adjusted operating profit has turned positive for the first time, signaling a critical operational milestone as it races toward an initial public offering (IPO).

According to documents obtained by Bloomberg, Anthropic's preliminary Q2 revenue exceeded $11.5 billion, significantly surpassing the $787 million recorded in the same quarter of 2025 and showing strong growth compared to Q1 2025's $4.73 billion. The documents also indicate that Anthropic achieved positive adjusted operating profit in Q2 2025.

As of May, Anthropic's annualized revenue estimate has surpassed $47 billion, driven primarily by rising adoption among enterprise professionals.

This rapid expansion highlights the intensifying competition between Anthropic and its long-term rival, OpenAI. Recent reports suggest OpenAI's annualized revenue estimate exceeds $40 billion. While the two companies may use different calculation methods, these figures underscore the escalating rivalry in the enterprise AI market as corporate clients accelerate their AI spending.

Anthropic is reportedly planning a mega IPO this fall and is actively engaging with potential investors to discuss its future financial trajectory. The company is said to have already filed its IPO application confidentially and is working with advisory teams from Morgan Stanley, Goldman Sachs, and JPMorgan Chase on its上市 preparations.

If Anthropic goes public this fall, it would not only precede OpenAI but also potentially beat Chinese AI firm DeepSeek to the public markets. DeepSeek has recently been gaining ground in the AI technology landscape, with insiders indicating it is preparing for an IPO and could file as early as this year.

The AI race is also fueling IPO market enthusiasm. According to Bloomberg's compiled data, IPO fundraising in 2025—excluding SPACs and other financial instruments—has reached $256.4 billion year-to-date, on track to become the highest annual fundraising total since 2021.