Anthropic projects $70B in revenue by 2028: Report

Information Report That Anthropic expects to generate $70 billion in revenue and $17 billion in cash flow in 2028. Growth estimates have been buoyed by rapid adoption of Anthropic’s commercial products, said a person with knowledge of the company’s financials.

last month, Reuters reported That Anthropic is projected to more than double and potentially nearly triple its annual revenue run rate next year. The company is said to be on track to hit $9 billion in ARR by the end of 2025, and has set an ARR target of $20 billion to $26 billion for 2026.

According to The Information, Anthropic expects to generate $3.8 billion in revenue this year from selling access to its AI models through an API, more than double the $1.8 billion in revenue OpenAI will generate from API sales. Claude Code is close to generating $1 billion in annual revenue, up from about $400 million in July.

In recent weeks, Anthropic’s aggressive B2B strategy has become more apparent. Microsoft and Anthropic recently partnered to use Anthropic’s models Microsoft 365 Apps And Copilot. There is also anthropology Expanded its Salesforce partnership And plans to roll out its AI assistant Claude to the tens of thousands Employee of Deloitte And wise.

When it comes to model improvements, Anthropic has, in the past two months, launched smaller, more affordable models – Claude Sonnet 4.5 And Claude Haiku 4.5 — that appeals to businesses deploying AI at scale. The startup has also expanded Cloud for financial services and launched Enterprise Search to enable businesses to connect all their internal work apps to Cloud.

Anthropology can lean on its growth to raise more funds. The startup last raised $13 billion from investors in September in an oversubscribed round that valued Anthropic at $170 billion. If it were to raise again, Anthropic would likely be valued between $300 billion and $400 billion, according to The Information.

The outlet’s report also includes cash flow projections of $17 billion in 2028. Cash flow is not the same thing as profit – it means more money than is coming in from a company’s operating, investing and financing activities. Anthropic’s publicly available liabilities include a $2.5 billion credit facility and a $1.5 billion legal settlement From a copyright lawsuit that a group of authors brought against the company.

That said, the company expects its gross profit margin — which measures a company’s profit after accounting for direct costs associated with producing goods and services — to reach 50% this year and 77% in 2028, up from negative 94% last year, according to the data.

OpenAI, Anthropic’s main rival recently valued at $500 billion, is also pursuing a B2B strategy, fueled by a strong consumer push. 800 million weekly users. OpenAI expects to generate and reach $13 billion in revenue this year $100 billion in 2027. But while Anthropic is projecting positive cash flow through 2028, OpenAI expects heavy losses, including cash burn. reached 14 billion dollars in 2026 and expected The $115 billion Mt Company ramps up infrastructure spending till 2029