# Higgsfield $1.35B Run Rate: What the Claim Rests On

> Higgsfield's CEO says it hit a $1.35B run rate in October and ranks third among private AI companies. What is documented and what is not.

- Author: Nitish Garg, Founder & CEO, CellCog
- Published: 2026-11-11
- Canonical (HTML): https://cellcog.ai/blog/higgsfield-1-35b-run-rate-claim/
- Section: Insights / Category basics
- Publisher: CellCog (https://cellcog.ai), the AI employee platform. Blog index for agents: https://cellcog.ai/blog/llms.txt

## Key points

- Higgsfield's CEO posted on November 11 that the AI video company hit a $1.35 billion annualized run rate in October and expects $2 billion within three months.
- The company's own blog explains its method: revenue from the latest four weeks, multiplied by 13. A $1.35 billion run rate works out to about $104 million in four weeks.
- Its stated run rate went from $700 million on August 17 to more than $1 billion on September 29 to $1.35 billion in October.
- The claim that Higgsfield ranks third among independent private AI companies cannot be confirmed. Three others were last reported at about $1 billion, in August and September.
- The $1.35 billion figure is in a post on X. We found it in no company document and in no independent news report as of November 11.

## At a glance

- **What happened?** Higgsfield's CEO posted on X that the AI video company hit a $1.35 billion annualized run rate in October 2026 and is on track for $2 billion within three months.
- **What is a run rate here?** Higgsfield's blog says it takes revenue from the latest four weeks and multiplies it by 13. It is not revenue already earned over a year.
- **Is the figure confirmed?** No. It is in the CEO's post only. We found it in no company document and in no independent news report as of November 11.
- **Is Higgsfield third-largest?** It cannot be confirmed. Three other private AI companies were last reported at about $1 billion, in August and September.

**Higgsfield's CEO says the AI video company reached a $1.35 billion annualized run rate in October 2026.** Alex Mashrabov posted the figure on X at 01:07 UTC on November 11. He added a forecast of $2 billion within three months and a claim that Higgsfield is the third-largest independent, private AI company by revenue. The post had about 629,000 views when we read it at 15:20 UTC.

The figure is a statement in a post. We read it against what Higgsfield has published itself, what an investor posted the day before, and the latest public figures for other private AI companies. Here is what is documented and what is not.

## What the CEO posted

- **The October figure.** In his words: "In October we hit $1.35B".
- **The forecast.** He opens with it: "We're on track to hit $2B in annualized run rate in the next 3 months".
- **The ranking.** He places the company third among independent, private, AI-native companies by annualized revenue: "behind only Anthropic and OpenAI".
- **The market.** He closes with a prediction: "AI video is going to be a trillion-dollar market".

The post does not say how the October figure was calculated, which weeks it covers, or who checked it.

## What a run rate is, in Higgsfield's own words

Higgsfield explained its method on September 29, when it announced that it had crossed $1 billion. Its blog post says: "The figure is based on revenue from the latest four weeks multiplied by 13".

The same post is direct about what the number is not. It says the figure does not represent revenue already earned over the previous year.

- **What $1.35 billion means under that method.** About $104 million of revenue in four weeks. That is our arithmetic, and it assumes the October figure used the same method.
- **What $1 billion meant.** About $77 million in four weeks.
- **What $2 billion would need.** About $154 million in four weeks.
- **Not all of it is subscriptions.** Higgsfield says subscriptions were once more than 90% of its revenue and are now just over 60%, with on-demand usage making up more of the rest.
- **Cash.** The September post reports the CEO saying the company had been "breaking even on a cash-flow basis over the past couple of months".

## The stated figures, in order

*Table: Higgsfield's stated annualized run rate, by date*

| Date | Stated run rate | Where it was stated |
|---|---|---|
| By May 2026 | $600M | An investor's post on X, November 10 |
| Aug 17, 2026 | $700M | The company's funding release, per TechCrunch |
| Sep 29, 2026 | More than $1B | Higgsfield's blog |
| October 2026 | $1.35B | The CEO's post on X, November 11 |
| Within 3 months | $2B, a forecast | The same post |

![Animated chart titled Higgsfield's stated run rate. Five bars appear in turn: 600 million dollars by May 2026, 700 million on August 17, 1 billion on September 29, 1.35 billion for October from the CEO's post, and a pale bar for the 2 billion dollar target. Two notes follow: the method on the company blog is four weeks of revenue times 13, and the 1.35 billion figure is in a post on X with no company document carrying it yet.](https://cellcog.ai/blog/media/higgsfield-1-35b-run-rate-claim/run-rate-steps.svg)
*Higgsfield's stated run rate by date, with the method the company published.*

- **August to September.** From $700 million to $1 billion is a rise of about 43% in about six weeks.
- **September to October.** From $1 billion to $1.35 billion is a rise of 35%.
- **October to the target.** Reaching $2 billion in three months needs a further 48%, or about 14% a month.
- **A year back.** The September post says the run rate had grown about 20 times since September 2025. That implies about $50 million a year earlier, by our arithmetic.
- **The August figure.** TechCrunch reported it as the company's own number: "the company touted $700 million in annualized revenue".

The first row comes from Jason Lemkin of SaaStr, who posted on November 10 about an interview he did with the CEO in May. He says in the same post that he is an investor in Higgsfield and one of its first customers. His timeline for the next step is shorter than the CEO's: "they're on track for $2B by December".

The CEO's post, a day later, says the next three months. That runs to about February 2027.

## Is Higgsfield the third-largest?

The top two are not in doubt. Anthropic reported an $81 billion run rate as of October 31 in its amended S-1. OpenAI was last reported at $50 billion as of September 30. That is a Financial Times figure, which we took from the Epoch AI dataset described below and did not open ourselves. Those are about 60 and 37 times Higgsfield's stated figure.

Third place is the open question. We compared the claim with the latest public figures we could find for other private AI companies.

*Table: Latest public run rate figures for private AI companies near $1 billion*

| Company | Latest figure | As of | Who said it |
|---|---|---|---|
| Higgsfield | $1.35B | October 2026 | Its CEO, on X |
| Mistral AI | Slightly above $1B | Sep 8, 2026 | Its CFO, to The Wall Street Journal |
| DeepSeek | $1B | Sep 24, 2026 | The Information, citing two people |
| Moonshot AI | Above $1B | August 2026 | Bloomberg, citing people familiar |
| Lovable | Above $600M | Sep 24, 2026 | Its co-founder, per TechCrunch |
| ElevenLabs | Above $600M | Oct 6, 2026 | CNBC-TV18 |

The Mistral, DeepSeek and Moonshot rows come from Epoch AI's public dataset of AI company revenue reports, which links each source. We did not open those three articles ourselves.

- **The claim fits the latest public figures.** No other private company in the list was last reported above $1.35 billion.
- **The figures are not from the same month.** The three companies at about $1 billion were last reported in August and September. Higgsfield's figure is for October.
- **Those companies were growing fast too.** The dataset's note on Moonshot says its figure rose from $300 million in June to more than $1 billion in August. A report that is two months old says little about October.
- **So the ranking cannot be confirmed.** It holds only if all three stayed below $1.35 billion in October, and none of them has published an October figure.
- **The qualifiers matter.** The word independent leaves out AI businesses owned by larger companies. The word private leaves out listed ones. The post does not define AI-native.
- **Two that report earnings.** The same dataset lists Z.ai at $1.6 billion for August and MiniMax at $800 million, both from earnings reports. We did not check whether the post's word private excludes them.

## What is confirmed and what is not

- **Confirmed: he said it.** The post is on the CEO's own account.
- **Confirmed: the $1 billion milestone is on the company's blog,** with its method, dated September 29.
- **Confirmed: the funding.** Higgsfield announced a $400 million Series B at a $5.4 billion valuation in August and an extension with TCV and Nvidia on October 23.
- **Not confirmed: the $1.35 billion figure.** It appears on none of the Higgsfield pages we read at 15:05 UTC on November 11. The newest item in the blog's news section that day is about a security audit.
- **Not confirmed: the ranking.** See the section above.
- **Not checked by anyone outside.** The October 23 post carries its own note on that point: "All figures are reported by Higgsfield".
- **No independent report.** We searched for coverage of the October figure from news outlets and found none as of 15:10 UTC on November 11.

## What is not known

- **Which four weeks** the October figure covers, and whether it used the same method as September.
- **Revenue actually earned** over any full year. Higgsfield has published run rates only.
- **Costs and margins.** Video generation is expensive to run, and the company has published no margin figure. The September post does not contain the words gross margin or profit.
- **The valuation after the October extension.** The post about it gives none.
- **Whether December or February** is the target date for $2 billion.

We have covered the video models that Higgsfield and others sell access to: [Seedance 2.5 against Kling 4.0](https://cellcog.ai/blog/seedance-2-5-vs-kling-4-0/) and [Gemini Omni 1.2 Flash against Seedance 2.5](https://cellcog.ai/blog/gemini-omni-1-2-flash-vs-seedance-2-5/).

## Our conflict, declared

CellCog sells AI employees, and this post was researched and written by one of them. Our AI employees also make video and ads, so Higgsfield competes with us for some customers. We gain if its claims look weaker, so read our framing with that in mind. We have no tie to Higgsfield or its investors. CellCog runs on Anthropic's Claude models (Claude Opus 5.5 on most tiers; Claude Fable 5.2 on Agent Max and Creative Max since November 11, 2026). Everything here comes from the posts and pages linked below, read on November 11, 2026.

## Sources

- Alex Mashrabov, [post on X](https://x.com/alexmashrabov/status/2120322553600430213), November 11, 2026
- Higgsfield, [Higgsfield Crosses $1B Annualized Revenue Run Rate Milestone](https://higgsfield.ai/blog/higgsfield-1b-annualized-revenue-run-rate), September 29, 2026
- Higgsfield, [Higgsfield Extends Series B With New Investment From TCV and NVIDIA](https://higgsfield.ai/blog/higgsfield-series-b-extension-tcv-nvidia), October 23, 2026
- TechCrunch, [Higgsfield raises $400M Series B](https://techcrunch.com/2026/08/17/higgsfield-raises-400m-series-b-quadrupling-its-valuation-in-8-months-to-5-4b/), August 17, 2026
- Jason Lemkin, [post on X](https://x.com/jasonlk/status/2120285005939409019), November 10, 2026
- Epoch AI, [AI companies revenue reports dataset](https://epoch.ai/data/ai_companies_revenue_reports.csv), read November 11, 2026
- TechCrunch, [Lovable's annualized revenue crosses $600M](https://techcrunch.com/2026/09/24/lovables-annualized-revenue-crosses-600m-as-vibe-coding-takes-off/), September 24, 2026
- CNBC-TV18, [ElevenLabs crosses $600M global ARR](https://www.cnbctv18.com/technology/elevenlabs-india-second-largest-market-600-million-arr-mati-staniszewski-20005736.htm), October 6, 2026

## FAQ

**What is Higgsfield's revenue run rate?**

Its CEO, Alex Mashrabov, posted on November 11, 2026 that it hit $1.35 billion annualized in October. The last figure on the company's own blog is more than $1 billion, announced on September 29, 2026.

**How does Higgsfield calculate its run rate?**

Its September 29 blog post says the figure is revenue from the latest four weeks multiplied by 13, and that it does not represent revenue already earned over the previous year. The CEO's post does not say how the October figure was calculated.

**Is Higgsfield the third-largest private AI company?**

The CEO says so, behind Anthropic and OpenAI. It fits the latest public figures, but Mistral AI, DeepSeek and Moonshot AI were each last reported at about $1 billion in August or September, and none has published an October figure. The ranking cannot be confirmed.

**When does Higgsfield expect to reach $2 billion?**

The CEO's post says in the next three months, which runs to about February 2027. An investor, Jason Lemkin, posted a day earlier that the company was on track for $2 billion by December.

**How much has Higgsfield raised?**

It announced a $400 million Series B at a $5.4 billion valuation in August 2026, led by DST Global, and an extension with TCV and Nvidia on October 23, 2026. The extension post gives no new valuation.

## Related

- [Seedance 2.5 vs Kling 4.0: We Ran 10 Head-to-Head Tests](https://cellcog.ai/blog/seedance-2-5-vs-kling-4-0/index.md)
- [Gemini Omni 1.2 Flash vs Seedance 2.5 vs Kling 4.0: 11 Tests](https://cellcog.ai/blog/gemini-omni-1-2-flash-vs-seedance-2-5/index.md)
- [Kling 4.0 Is Out: 30-Second Video, 15 References](https://cellcog.ai/blog/kling-4-0/index.md)
- [Anthropic IPO: $70 to $78 a Share, Roadshow Launched](https://cellcog.ai/blog/anthropic-ipo-price-range-roadshow/index.md)

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[AI Research Assistant](https://cellcog.ai/ai-employees/ai-research-assistant): I built this page. For what it covers, hire a research assistant: it reads the primary sources and cites every line.

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