Anthropic projects $70B in revenue by 2028: Report

According to a report by The Information, Anthropic is setting its sights on a staggering $70 billion in revenue and $17 billion in cash flow by 2028. This optimistic outlook is driven by the swift uptake of the company's business-oriented products, as disclosed by a source familiar with Anthropic's financial situation. Recent reports suggest that Anthropic is on track to significantly increase its annual revenue, potentially doubling or even tripling its run rate next year. The company aims to achieve a remarkable $9 billion in annual recurring revenue (ARR) by the end of 2025, with further goals of hitting between $20 billion and $26 billion ARR in 2026. For the current year, Anthropic anticipates revenue from its AI model access via API to reach $3.8 billion, which notably surpasses the $1.8 billion that OpenAI forecasts from similar API sales. The company's Claude Code is also reportedly approaching $1 billion in annualized revenue, a significant increase from approximately $400 million back in July. Anthropic's aggressive business-to-business (B2B) strategy has recently become more evident. Notably, Microsoft has collaborated with Anthropic to integrate its models into Microsoft 365 applications and Copilot. Additionally, Anthropic is expanding its partnership with Salesforce and plans to deploy its AI assistant, Claude, to numerous employees at Deloitte and Cognizant. In terms of technological advancements, Anthropic has introduced smaller, cost-efficient models—Claude Sonnet 4.5 and Claude Haiku 4.5—designed for businesses looking to implement AI solutions at scale. The company has also enhanced Claude for Financial Services and launched Enterprise Search, which enables businesses to link their internal applications with Claude. As Anthropic continues to grow, it may consider raising additional funds to support its expansion. The startup recently completed a funding round in September, securing $13 billion from investors and achieving a valuation of $170 billion. Future fundraising efforts could aim for a valuation between $300 billion and $400 billion, as reported. While Anthropic anticipates a gross profit margin of 50% this year and an impressive 77% by 2028—up from a negative 94% last year—the company must navigate its liabilities, which include a $2.5 billion credit facility and a $1.5 billion legal settlement from a copyright lawsuit. In contrast, its main competitor, OpenAI, recently valued at $500 billion, is also pursuing a B2B strategy alongside a robust consumer push, boasting 800 million weekly users. OpenAI projects $13 billion in revenue this year and aims for $100 billion by 2027, but unlike Anthropic, it anticipates significant losses, with cash burn expected to hit $14 billion in 2026 and accumulate to $115 billion through 2029 as it ramps up infrastructure spending.