Anthropic is projected to generate annual revenue exceeding $19 billion, with $6 billion added in February, CEO Dario Amodei confirmed at a Morgan Stanley TMT conference.

The projection more than doubles the AI company’s run rate from late last year. The new annual recurring revenue target is up from $9 billion at the end of 2025 and roughly $14 billion a few weeks ago.

Bloomberg News first reported the development.

The growth in run rate was driven by adoption of Anthropic’s AI models and products including its coding tool, Claude Code.

Anthropic, now valued at $380 billion, has seen momentum this year. Products from the company have gained attention for helping to automate tasks, including Claude Code.

A clash with the Pentagon over AI safeguards now casts doubt over Anthropic’s business. On Friday, Defense Secretary Pete Hegseth declared the AI developer a supply-chain risk, a designation typically reserved for companies from countries the US views as adversaries. The move came after a standoff in which Anthropic pressed for restrictions on the Pentagon’s use of its AI technologies for surveillance and autonomous weaponry. Hegseth’s declaration is meant to cut off Anthropic’s sales from the US government and other firms.

“We believe in America & we believe in helping to defend our country…will continue to work to figure out a solution with DOW,” Amodei said at the event, according to investor Brad Gerstner.