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Anthropic eyes $190 billion to $200 billion revenue by 2028

Reuters cites sources saying the projections would far exceed its current $47 billion annual revenue run rate.

Reported · Written up by our desk · North America

Anthropic is preparing for a potentially landmark IPO as sources cited by Reuters point to much larger future revenue expectations, with the company projected to generate about $190 billion to $200 billion in revenue by 2028.

That outlook, according to Reuters, would be far above Anthropic's current $47 billion annual revenue run rate reported in May, and it also reflects how investors are starting to anchor valuation on distant growth rather than near term results.

Reuters also says investors and market comparables being considered include public peers such as Palantir, which is valued at 53 times this year's expected revenue, along with SpaceX and Cloudflare trading at about 41.6 times expected 2026 revenue based on LSEG data.

In addition, Reuters points to documents seen by Bloomberg News showing Anthropic's second quarter revenue jumped at least 14-fold year over year, with a preliminary revenue figure of more than $11.5 billion versus $787 million in the same period in 2025, and a preliminary positive adjusted operating income for the quarter.

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