$65B
▲ 650× since Oct 2023
Anthropic annualized revenue, end of July 2026 (OpenAI: $50B, end of September 2026)
20232026
What the chart shows
Epoch AI estimates Anthropic’s annualized revenue at $65 billion at the end of July 2026 and OpenAI’s at $50 billion at the end of September 2026. Anthropic’s latest estimate has been above OpenAI’s since early April 2026, when it reached $30 billion; OpenAI’s latest was then $25 billion, from the end of February.
The other companies shown are much smaller: Z.ai $1.6 billion (August 2026), Mistral AI $1 billion (September 2026) and xAI $428 million (September 2025, its latest Epoch estimate).
The vertical axis is logarithmic, so equal steps mean equal multiples; a straight rising line means steady percentage growth.
Key numbers
| Measure | Value |
|---|---|
| Anthropic (Jul 2026) | $65B |
| OpenAI (Sep 2026) | $50B |
| Z.ai (Aug 2026) | $1.6B |
| Mistral AI (Sep 2026) | $1B |
| xAI (Sep 2025) | $428M |
How to read it
- Annualized revenue is a run-rate estimate (recent revenue scaled to a year), not reported annual revenue.
- Companies’ latest data points fall on different dates.
- xAI’s points, and Z.ai’s up to March 2026, are averages Epoch AI interpolates from quarterly or half-year revenue. Z.ai’s August 2026 figure is annual recurring revenue, so part of its rise reflects the change of measure.
- This chart uses Epoch AI’s data as accessed on 21 October 2026. The AI Index Report 2026 printed an earlier extract that ends in March 2026.
Source: Epoch AI, AI Companies (CC BY 4.0), accessed 21 October 2026. Chart and text by AI Adoption. The AI Index Report 2026 (Stanford HAI) charts an earlier extract of the same data as figure 4.2.18: AI company annualized revenue.
Numbers checked against the published data on 21 October 2026.
Download the data (CSV) · Cite this chart
Numbers checked against the published data on 21 October 2026.
Download the data (CSV) · Cite this chart
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