Anthropic Reports $65 Billion ARR, OpenAI Cuts API Prices

Advanced figures for 2026 describe an unprecedented surge in Anthropic's revenues, potentially making the startup a declared engine of technological profits. In contrast, OpenAI confirms a lower ARR and significantly reduced its API prices at the end of July 2026. These differing trajectories and calculation methodologies come as IPOs and giant valuations are being considered.

Quarterly Jumps and Unusual Percentages in 2026

Anthropic's revenues for the second quarter are reported at $11.5 billion, compared to $787 million a year earlier. It is noted that the company has recorded an ARR increase of 2,900% since the end of 2024 and 64,900% since the beginning of 2024. By mid-2026, the ARR would be growing by approximately $9 billion each quarter and would have experienced growth about 3 to 4 times greater than that of OpenAI in recent quarters. This movement is presented as having profoundly influenced the growth curve of Google Cloud and AWS, and as being the main source of profits for major tech companies in 2026. By 2030, Anthropic is even portrayed as having achieved supremacy in the field of AI.

Against OpenAI: Slowdown, Market Share, and Open Source

OpenAI is described as slowing down, including having 800 million weekly active users for ChatGPT, while its market share has reportedly fallen below 50% and continues to decline. On a quarterly basis, Anthropic would have nearly doubled OpenAI in the second quarter. The rise of open source is presented as disrupting OpenAI's revenue growth, which derives about half of its income from B2B compared to B2C, and is likely to be further challenged by open-source models from China, unlike Anthropic.

Declared ARR: $65 Billion at Anthropic, $40 Billion at OpenAI, and Diverging Methods

Anthropic has informed its investors that its annualized ARR stood at $65 billion at the end of July 2025, while OpenAI reported an ARR of $40 billion. However, the two companies do not communicate according to the same criteria: Anthropic accounts for its market partner commissions on a gross basis, while OpenAI presents net figures after Microsoft's share. Given these approaches, the comparison may slightly overestimate Anthropic relative to OpenAI.

Pricing, Token Costs, and Expected Computing Parity

On July 30, 2026, OpenAI reduced API prices for the GPT-5.6 family, with an 80% decrease for GPT-5.6 Moon. This change comes as routing and code wrappers would favor Chinese models with open weights, thanks to lower token costs. At the same time, Nvidia is described as subsidizing Neo Clouds and computing costs at radical levels, which would artificially inflate the value of the cost per token. If these subsidies continue as an "AI bank," they could enable Anthropic to achieve computing parity with OpenAI.

Product Advantage, Governance, and Mentioned Stock Trajectory

Anthropic is presented as holding a premium advantage in coding LLMs, with adoption driven by enterprises and tools like Claude Code. Despite the blockage of its Mythos model, its revenues do not seem to be affected yet. On the market side, an IPO is mentioned for October, in 8 to 12 weeks, within a trio expected alongside SpaceX and OpenAI, described as the most significant that the American markets would have experienced. Taking SpaceX as an example, valued at $1.75 trillion at its IPO, a target valuation of $2 trillion is suggested for Anthropic, with the possibility of reaching nearly $3 trillion by the end of 2026. The company is also described as being led by a brother-sister duo, with Daniela responsible for operations, internal policy, sales, recruitment, and security. It is also mentioned that Anthropic may have surpassed OpenAI and could report revenue double that of OpenAI at the time of its IPO, during which Anthropic would have no rival of the same level, including against Google, DeepSeek, or Alibaba.