Anthropic, a leading AI firm founded by ex-OpenAI employees, says it will achieve $850 million in annualized revenue by the end of 2024.

Anthropic has emerged as an alternative to OpenAI for companies not named “Microsoft.” In its efforts to catch up with Microsoft and OpenAI, Google invested $2 billion in the startup, while Amazon announced plans to invest at least $4 billion in the company.

According to The Information, Anthropic says its annualized revenue will hit $850 million by the end of 2024, a significant increase over previous estimates. The company had told investors as recently as three months ago that it expected that figure to be $500 million by the end of 2024.

As the outlet points out, it is unclear what accounts for the significantly larger estimate.