Menlo Ventures’ Matt Murphy explains why Anthropic is winning (and it’s not the model)

What happened

Anthropic leaped to a $47 billion revenue run rate by May, compared to $9 billion in 2025. It’s the kind of growth that Menlo Ventures’ Matt Murphy says he’s never seen in 25 years of investing, not in the internet wave, not in mobile, not in the first cloud boom. Menlo led Anthropic’s $500M Series D, and Murphy has had a fro

From a practical standpoint, the immediate impact depends on rollout speed, user behavior, and supporting infrastructure readiness.

Why it matters

The bigger story is not only the announcement itself, but how it changes product strategy, competition, and user expectations.

From a practical standpoint, the immediate impact depends on rollout speed, user behavior, and supporting infrastructure readiness.

Key takeaways

• Performance and reliability will decide adoption.
• Ecosystem support determines long-term success.
• Security and compliance are baseline expectations.

What to watch next

Watch for updates in documentation, pricing, rollout timelines, and early customer feedback.

From a practical standpoint, the immediate impact depends on rollout speed, user behavior, and supporting infrastructure readiness.

Additional context

Teams evaluating new tech should test realistic workloads and measure total cost of ownership.

From a practical standpoint, the immediate impact depends on rollout speed, user behavior, and supporting infrastructure readiness.