Anthropic
2026-08-18 11:25:04Anthropic revenue debate weighs on premarket trade as major U.S. indexes and hardware names fall
U.S. stock index futures and a range of AI-linked hardware names moved lower in premarket trading on Aug. 18, with weakness showing up across storage and optical communications stocks. According to BIT (Bit.com) market data, the Nasdaq fell 0.32%, the S&P 500 lost 0.52%, and the Dow slipped 0.51% before the opening bell. Among individual names, SanDisk, Seagate Technology, Western Digital, Micron Technology, and SK Hynix all declined, while Corning, Coherent, Marvell Technology, Lumentum Holdings, and Nokia also traded lower.
The move came as markets revisited Anthropic’s reported revenue trajectory. Bloomberg had previously reported that the company’s annualized revenue run rate reached about $65 billion as of the end of July. That figure landed below some third-party data points and optimistic expectations in AI circles that had pointed to more than $80 billion, prompting questions about whether the pace of growth is slowing.
Part of the dispute centers on ARR, or annual recurring revenue. ARR annualizes current revenue pace and is not the same as audited full-year revenue. Sacra said Anthropic’s annualized revenue was about $47 billion in May and rose to $65 billion in July, while also noting that revenue from cloud channels including AWS, Google, and Microsoft may be recognized on a gross basis, a factor that can make the revenue scale appear larger and draw more scrutiny to margins and revenue quality.