Can Anthropic really hit $200 bn in revenue by 2028?

Anthropic saw its annual revenue run rate top $65 billion by the end of July amid preparations for a blockbuster IPO. The company has reportedly forecast 2028 revenue of roughly $190 billion to $200 billion. The projections have become a focal point for investors — with many betting on a $2 trillion valuation for the artificial intelligence start-up.

According to a source-based Reuters report, the AI startup has seen its revenue run ⁠rate rise higher after $47 billion in May and an extraordinary jump from about $9 billion at the end of ⁠2025.