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Anthropic

SPrivate (public benefit corporation; confidentially filed for IPO)Founded 2021🇺🇸San Francisco, California
CEO

Dario Amodei

Data verified as of Jul 21, 2026

Summary

Anthropic is a San Francisco AI-safety and research company, founded in 2021 by former OpenAI researchers led by siblings Dario and Daniela Amodei, that develops the Claude family of large language models. As of mid-2026 its lineup spans Claude Haiku 4.5, Claude Sonnet 5, the flagship Claude Opus 4.8, and its most capable widely released model, Claude Fable 5 (plus the invitation-only Claude Mythos 5). Claude is delivered through the claude.ai apps, the Claude API, enterprise plans, and Claude Code — its agentic coding tool, which alone surpassed a $2.5B run-rate and 2M+ weekly active users. Anthropic differentiates on safety and interpretability research and runs on massive cloud partnerships with Amazon (Project Rainier) and Google (up to $40B in cash and compute). Run-rate revenue reached ~$47B by May 2026; that month it raised a $65B Series H at a $965B valuation — briefly the world's most valuable AI startup — and on June 1, 2026 it filed confidentially for an IPO.

Main Products

Claude Fable 5

Claude Fable 5

Generally Available

Anthropic's most capable widely released model, built for the most demanding reasoning and long-horizon agentic work, with always-on adaptive thinking. It includes safety classifiers that can decline high-risk requests, with fallback to other Claude models.

Generally available since June 9, 2026 on the Claude API, Claude Platform on AWS, Amazon Bedrock, Google Cloud and Microsoft Foundry. Shares specs with the invitation-only Claude Mythos 5 offered under Project Glasswing.

Context Window1M tokens (128K max output)
Pricing$10 / input MTok, $50 / output MTok
ThinkingAdaptive thinking (always on)

Claude Opus 4.8

Generally Available

Anthropic's flagship model for complex agentic coding and enterprise work, and the recommended default for hard tasks across the Claude API, Claude Code and claude.ai.

Generally available with a 1M-token context window; the `effort` parameter defaults to high across all surfaces.

Context Window1M tokens (128K max output)
Pricing$5 / input MTok, $25 / output MTok

Claude Sonnet 5 & Haiku 4.5

Generally Available

The balanced and fast tiers of the Claude family. Sonnet 5 (June 30, 2026) pairs near-flagship capability with speed and a 1M-token context window; Haiku 4.5 is the fastest tier with near-frontier intelligence for high-volume, latency-sensitive workloads.

Both generally available across Claude plans, Claude Code and the Claude Platform. Sonnet 5 carries introductory pricing of $2/$10 per MTok through August 31, 2026.

Sonnet 5 Pricing$3 / input, $15 / output MTok (1M context)
Haiku 4.5 Pricing$1 / input, $5 / output MTok (200K context)

Claude Code

Generally Available

Anthropic's terminal- and IDE-based agentic coding tool that writes, edits and runs code autonomously. Launched as a research preview in February 2025, it has become one of Anthropic's fastest-growing products, with enterprise now the majority of its revenue.

Running at a $2.5B+ run-rate with 2M+ weekly active users as of mid-2026; enterprise customers include Netflix, Spotify and Salesforce.

Run-Rate Revenue$2.5B+ (Feb 2026)
Weekly Active Users2M+ (May 2026)

What's Next

Complete a landmark IPO

Convert the June 2026 confidential filing into a public listing — with bankers reported in mid-July to be lining up investor meetings for a possible October Nasdaq debut — in what would be one of the largest AI IPOs ever, with underwriting reported to involve Goldman Sachs, JPMorgan and Morgan Stanley.

Q4 2026

Scale compute via Amazon and Google

Ramp AWS Project Rainier toward up to 5 GW of Trainium capacity (Trainium3 online by end-2026) under a $100B+ commitment, and bring on large-scale Google TPU capacity from the up-to-$40B Google deal.

2026 and beyond

Sustain the revenue ramp toward $70B+

Build on the climb from ~$14B (Feb) to ~$47B (May) annualized run-rate and reach a first profitable quarter, a trajectory investors will watch closely into the IPO.

2026

Extend the model lineup and agentic products

Continue the rapid Claude release cadence beyond Fable 5, Opus 4.8 and Sonnet 5, and deepen enterprise-grade agentic products (Claude Code and newer agent surfaces) with stronger admin, analytics and spend controls.

Ongoing 2026

Lead on AI safety and navigate policy

Advance Anthropic's interpretability and safety research and its model-safety classifiers, while navigating U.S. government scrutiny of frontier models — including the mid-2026 export-control episode around its most capable models.

Ongoing

Recent News

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Operations & Revenue

StatusHypergrowth; IPO-filed

Anthropic is scaling rapidly: run-rate revenue reached ~$47B by May 2026, it serves 300,000+ business customers including eight of the Fortune 10, and Claude Code alone runs at a $2.5B+ run-rate. It operates one of the world's largest AI compute footprints via AWS Project Rainier (1M+ Trainium2 chips) plus Google TPU capacity, and filed confidentially for a Nasdaq IPO on June 1, 2026.

Revenue Streams

Claude API / Platform

Usage-based access to Claude models for developers and businesses via the Claude API and Claude Platform on AWS, Amazon Bedrock, Google Cloud and Microsoft Foundry — historically the majority of revenue.

Claude.ai consumer subscriptions (Pro / Max)

Paid consumer tiers of the claude.ai apps for individuals who want higher usage limits and access to the most capable Claude models.

Enterprise & Team plans

Claude Enterprise and Team seats with administrative controls, analytics, model entitlements, and spend management for organizations.

Claude Code

Anthropic's agentic coding product on a subscription-plus-usage model, running at a $2.5B+ run-rate with enterprise now more than half of its revenue (customers include Netflix, Spotify and Salesforce).

Key Metrics

Employees

~2,500+

Est. Annual Revenue

~$47B annualized run-rate as of May 2026, up from roughly $9–10B at the end of 2025 — among the fastest revenue ramps of any company on record

Valuation

$965B (post-money, May 2026)

Annualized Revenue Run-Rate

~$47B (May 2026)

Claude Code Run-Rate

$2.5B+ (Feb 2026)

$1M+/yr Customers

500+ (8 of the Fortune 10 are Claude customers)

Claude Code Weekly Active Users

2M+ (May 2026)

AWS Compute Commitment

$100B+ / up to 5 GW Trainium (Project Rainier)

Timeline

2026$30B Series G at a $380B valuation

On February 12, 2026 Anthropic raises a $30B Series G led by GIC and Coatue at a $380B post-money valuation. Run-rate revenue is then ~$14B, Claude Code has passed a $2.5B run-rate, and eight of the Fortune 10 are Claude customers.

2026Google commits up to $40B

On April 24, 2026 Google agrees to invest up to $40B in Anthropic in cash and compute, deepening Anthropic's multi-cloud strategy alongside Amazon and adding large-scale TPU capacity.

2026$65B Series H at a $965B valuation

On May 28, 2026 Anthropic closes a $65B Series H at a $965B post-money valuation — led by Altimeter, Dragoneer, Greenoaks and Sequoia — making it, at the time, the world's most valuable AI startup. Run-rate revenue has reached ~$47B.

2026Confidential IPO filing

On June 1, 2026 Anthropic confidentially submits draft paperwork for a public listing, positioning it to potentially beat OpenAI to market with a debut reported as soon as fall 2026.

2026Claude Fable 5, Sonnet 5 and Opus 4.8 ship

Anthropic releases Claude Opus 4.8 (its enterprise flagship) and, on June 9, 2026, Claude Fable 5 — its most capable widely released model — plus the invitation-only Claude Mythos 5. Claude Sonnet 5 follows on June 30, 2026.

2026Export controls on Fable 5 and Mythos 5 imposed, then lifted

On June 12, 2026 the U.S. Department of Commerce applied export controls to Claude Fable 5 and Mythos 5 after Amazon researchers demonstrated a jailbreak that could prompt Fable 5 to identify software vulnerabilities, forcing Anthropic to suspend access. Commerce removed the controls on June 30, and Anthropic restored global access to Fable 5 on July 1 (Mythos 5 to approved U.S. organizations). Anthropic agreed to deepen government collaboration, prereleasing frontier models for federal review, and built a new safety classifier plus an industry jailbreak framework with Amazon, Microsoft and Google.

2026$19B TeraWulf data-center lease expands compute footprint

On July 6, 2026 Anthropic signs a 20-year lease with TeraWulf for a purpose-built AI infrastructure campus at the Justified Data site in Hawesville, Kentucky — about 401 MW of critical IT load expected to generate roughly $19B in contracted revenue for TeraWulf. Initial capacity is slated to come online in the second half of 2027, ramping to the full build by early 2028, extending Anthropic's compute base beyond its Amazon (Project Rainier) and Google partnerships.

2026China flags Claude Code 'backdoor'; Alibaba bans the tool

On July 8, 2026 China's Ministry of Industry and Information Technology warned that Anthropic's Claude Code contains a 'security back-door vulnerability that poses a serious threat,' after researchers alleged hidden code that steganographically detected whether users were based in China or affiliated with Chinese AI labs. Anthropic said the mechanism was a March experiment to curb account abuse and model distillation, and that the code was removed in a pull request merged July 1. Alibaba ordered employees to stop using Claude Code for work effective July 10, adding it to a list of high-risk software — highlighting Anthropic's constrained standing in the Chinese market.

2026Claude Cowork expands to web and mobile

On July 7, 2026 Anthropic brought Claude Cowork — its agentic 'AI coworker' that runs longer, multi-step tasks — to the web and to iOS and Android, with sessions now running remotely in the cloud so work continues after a user closes their laptop and state syncs across devices. The rollout began with the $100-a-month Max plan, with other tiers to follow and usage limits doubled through August 5. Anthropic said data from about 1.2 million sessions shows more than 90% of Cowork usage is business operations and content creation rather than coding.

2026Court grants final approval of $1.5B copyright settlement

On July 20, 2026 a federal judge granted final approval to Anthropic's $1.5 billion settlement of the Bartz v. Anthropic class-action copyright suit — the largest known payout in a U.S. copyright case. The deal pays roughly $3,000 per work across an estimated 500,000 books that authors and publishers said Anthropic pirated to train its models, and more than 91% of covered rights-holders had filed claims by the approval hearing. It resolves the case that followed U.S. District Judge William Alsup's 2025 ruling that Anthropic had illegally downloaded and stored millions of copyrighted books.

2025Claude 3.7 and Claude Code; Claude 4 generation

Anthropic ships Claude 3.7 Sonnet — its first hybrid-reasoning model — alongside the Claude Code research preview in February 2025, then launches the Claude 4 generation (Opus 4 and Sonnet 4) in May 2025.

2025$13B Series F at a $183B valuation

In September 2025 Anthropic raises a $13B Series F led by ICONIQ (co-led by Fidelity and Lightspeed) at a $183B post-money valuation, funding compute and international expansion.

2024Claude 3 family establishes the three tiers

In March 2024 Anthropic launches the Claude 3 family — Opus, Sonnet and Haiku — establishing the tiered model structure, followed by Claude 3.5 Sonnet in June and Amazon's investment reaching $8B total in November.

2023Claude launches; Amazon and Google invest

Anthropic releases its first Claude models in March 2023. Later that year Amazon commits an initial $1.25B (up to $4B) to make AWS a primary cloud partner, and Google invests $500M with more committed.

2021Founded by ex-OpenAI researchers

Seven former OpenAI staff, led by siblings Dario Amodei (CEO) and Daniela Amodei (President), incorporate Anthropic in early 2021 as an AI-safety company structured as a public benefit corporation.

Funding

Cumulative disclosed raise · dated rounds

$100B$200B20222023202420252026$156B raised
RoundDateAmountInvestorsSource
Early rounds2021–2022$124M then $580MEarly investors (2022 round included $500M from FTX/Alameda)
Amazon strategic investment2023–2024$8B totalAmazon (AWS)
Series FSep 2025$13B at $183B valuationICONIQ (lead), Fidelity, Lightspeed
Series GFeb 2026$30B at $380B valuationGIC & Coatue (co-leads), D.E. Shaw, Dragoneer, Founders Fund, ICONIQ, MGX
Google strategic investmentApr 2026Up to $40B (cash + compute)Google
Series HMay 2026$65B at $965B valuationAltimeter, Dragoneer, Greenoaks, Sequoia (co-leads Capital Group, Coatue, D1, GIC, ICONIQ, XN)