FT Puts Anthropic's July Annualized Revenue at $65bn, and Ramp's Card Data Shows Fable 5 at Only 8% of Anthropic Model Spend

Simon Willison (on FT reporting, with Ramp AI index data at ramp.com/data/ai-index)·high signalXBlueskyLinkedInCopy link

Simon Willison pulled the numbers out of an FT report sourced to "people with knowledge of the matter": Anthropic's annualized revenue reached $65bn in July, up from $47bn in May, with 6,000 customers spending $100,000 or more per year, and the company told investors it expects a profitable Q3. OpenAI's annualized revenue is over $40bn, up 35% quarter-to-date after the July launch of GPT-5.6. The post also surfaced the Ramp AI index, which estimates model adoption from the billing data of 70,000 companies, and its July breakdown of Anthropic model spend puts Opus 4.8 first at 28.0% while the flagship Fable 5 sits at 8.0% and Opus 5 at just 3.5%, evidence that price, not capability, is driving what developers actually run.