From a revenue perspective, the top spot in large AI models has changed hands.

Anthropic announced its annualized revenue run rate hit $30B, up from $9B at the end of 2025—a $21B increase in just four months.

In February, 500+ enterprise customers were each spending over $1M annually. Now, that number has doubled to 1,000+ in under two months.

Meanwhile, OpenAI sits at around $25B ARR as of March.