AI start-up Anthropic has reached a $3 billion annualized revenue rate, with most of it coming from sales to businesses.
The company's consumer-oriented chatbot Claude has lower traffic compared to OpenAI's ChatGPT, but it is experiencing strong business demand, especially for code generation.
Anthropic's revenue rate has jumped from nearly $1 billion in December 2024 to $3 billion in May 2025, driven by the sales of AI models to other companies.
There is a warning about the risk of commoditization in the AI industry, with competitors emerging globally that could offer similar AI features at a lower cost.