Anthropic's Revenue Jump, The Wealthy Bet on SpaceX

**SPEAKER_1** (0:02)
Bloomberg Audio Studios, Podcasts, Radio, News. Bloomberg Tech is live from the heart of Silicon Valley with Ed Ludlow in San Francisco.

**Ed Ludlow** (0:22)
This is Bloomberg Tech. Coming up, Anthropic's second quarter revenue jumps to more than $11.5 billion, 14 times more compared to the same period a year ago. Plus, family offices around the world have built up billions of dollars of exposure to SpaceX. We'll have the details. And Bedrock Robotics launches the first fully autonomous excavator in the US. We're going to sit down with the CEO to discuss how the AI buildout is spurring demand for construction and AI is answering the call.
Good morning. There is lots of technology news this Monday, but there are other things happening that are impacting the tech sector. The president has made two statements this morning. The first on Truth Social, that the absolute red line for the president is that Iran must not have a nuclear weapon. He also went on Fox News and said that if Oman gets in the United States' way, they will be subject to bombing. Both of those impacting equities and Brent crude hovering around $89 a barrel. As I said, there is a lot of technology news. Let's take a look at today's big number, $11.5 billion.
That's how much Anthropic is reporting for their second quarter of 2026 revenue based on documents seen by Bloomberg. It's a 14 times increase from the same period one year ago. Let's get the latest. Bloomberg AI reporter, Rach Metz, broke the story with the team. Let's get into all the numbers, right? These are data points presented in documents seen by Bloomberg and shown to prospective investors, right? In what is an interesting period of the year. There are several of them. Just take us through the numbers.

**Rachel Metz** (1:51)
Yeah, so we have this revenue number, which is many times what the company had reported just a year earlier, which indicates that what it is doing is trying to sell its services, especially to companies, but also consumers are buying its services as well before its chatbot cloud is working. I mean, it's up about like, gosh, at least 14 fold from last time. It also is clear that the company had their annualized revenue or run rate crossed 47 billion in May.
From what we know, OpenAI has an annual run rate of over 40 billion, but it's important to remember that companies calculate things differently.

**Ed Ludlow** (2:37)
I point out that there's a number of AI stocks on the move to the upside this morning. The other data point that's interesting is positive adjusted operating income, which in Anthropic's case, I guess, is making everyone feel good that losses won't be infinite and forever.
But the comparison to OpenAI on ARR is really interesting because we put this in the context of two potential IPOs. If not this year, then maybe next year as well. What's the kind of reporting on the timeline for that?

**Rachel Metz** (3:06)
For me, it feels like it's still a little tricky to predict that one. But what I will say is that these two reports that we've done recently, this most recent one on Anthropic and then the other recent one we had on OpenAI and how their revenue is increasing. If we look at them individually and try to compare them to each other, because as I said, with ARR at least, they're calculating them in different ways. So it's certainly not an apples to apples comparison. It looks like each company is showing investors and potential investors better information than it could have just a month or two ago. And so that could be a really positive sign for an IPO.

**Ed Ludlow** (3:47)
What about the technology side? Where do we stand with Anthropic and OpenAI and sort of the cadence of them releasing the latest frontier models and where their business focuses are?

**Rachel Metz** (3:57)
Yeah, it's been kind of interesting to watch that unfold over like the last six months or so as these companies move closer to a potential IPO, you're seeing them sort of refocus or focus more intently on certain aspects of the business. I think with the OpenAI, we're still seeing a cadence of releases, but we're seeing less of an array of things, which is interesting. And it'll be even, I think, more clear as we go forward more this year, but we're also gonna see the company continue to focus on things that it thinks are important, both on the consumer and the enterprise side, because those are both really big businesses for it. With Anthropic, I bet we can expect to see a lot more on the coding side, probably science side as well. We may see that at both companies, both of those two things. But I think we're gonna see a lot of that sort of stuff happening, this sort of coding, perhaps science, and maybe some other sort of work-related applications that we haven't seen too much of yet for these chatbots, that they are hoping to sell to people.