Anthropic PBC is telling prospective investors its second-quarter revenue jumped at least 14-fold versus the same period a year ago, according to documents seen by Bloomberg News.

The Claude chatbot maker reported a preliminary revenue figure of more than $11.5 billion in its latest completed quarter, compared to $787 million in the corresponding period in 2025, and $4.73 billion in the first quarter of this year, the documents show. The second quarter of 2026 saw Anthropic report positive adjusted operating income, according to the documents.

Deliberations are ongoing and the figures could be revised. A representative for Anthropic declined to comment.

The rapid growth comes as the company battles its longtime rival OpenAI to win over corporate customers. Once considered an underdog in the artificial intelligence race, Anthropic has seen a surge in professionals adopting its software to streamline tasks including coding.

Anthropic’s annualized revenue or run rate crossed $47 billion in May. OpenAI has an annual run rate of over $40 billion, Bloomberg News reported, though the two figures may not be calculated the same way.

The company is meeting with investors ahead of its potential mega-IPO, people familiar with the matter said in July. Anthropic filed confidentially for a listing, and is working with Morgan Stanley, Goldman Sachs Group Inc. and JPMorgan Chase & Co. on the IPO, Bloomberg News has reported.

Anthropic is seeking to tap the public market’s ample funding capacity to maintain its lead over OpenAI and others, as AI companies spend hundreds of billions of dollars to develop the most cutting-edge models.

An IPO this fall would see Anthropic debut not only before OpenAI but also before DeepSeek, the Chinese AI firm that has been grabbing an increasing share of the market for the technology. DeepSeek is preparing for an IPO and could file as soon as this year, people familiar with the matter have said.

The AI race has fired up the IPO market, with listings this year raising $256.4 billion, excluding blank-check firms and other financial vehicles, according to data compiled by Bloomberg. That’s the most raised in a year since 2021, the data show.