Anthropic Targets $70 Billion Revenue by 2028 with Rapid AI Expansion
Anthropic anticipates generating up to $70 billion in revenue and $17 billion in cash flow by 2028. This ambitious target reflects rapid adoption of its business-focused AI products, according to someone familiar with the company’s financial outlook. The firm expects to end 2025 with $9 billion in annual recurring revenue and aims for $20 billion to $26 billion the following year.
The company’s revenue from selling API access to its AI models is forecast to reach $3.8 billion this year. That figure is roughly double what its main rival expects to earn from similar offerings. Claude Code, one of Anthropic’s business tools, is nearing $1 billion in annualized revenue an impressive jump from $400 million just a few months ago.
Expanding Partnerships and Product Line
Anthropic’s aggressive B2B expansion is becoming more evident. It recently deepened collaboration with Microsoft, integrating its models into productivity apps like Copilot. The company also broadened its work with Salesforce and plans to deploy its AI assistant, Claude, to hundreds of thousands of employees at Deloitte and Cognizant. These moves, combined with enterprise integrations, signal a push to cement its presence in large organizations.
In the past two months, Anthropic has rolled out smaller, cost-effective models Claude Sonnet 4.5 and Claude Haiku 4.5 that appeal to enterprises deploying AI at scale. Additionally, it expanded Claude for Financial Services and introduced Enterprise Search, allowing companies to link internal tools directly with its assistant. These upgrades illustrate a strategic focus on usability and scalability.
Financial Outlook and Competitive Context
After raising $13 billion in September at a $170 billion valuation, Anthropic may soon pursue another funding round. If that happens, insiders expect a potential valuation between $300 billion and $400 billion. Meanwhile, the company’s cash flow is projected to reach $17 billion by 2028. While cash flow doesn’t equal profit, it suggests a strong financial position, even with current obligations such as a $2.5 billion credit facility and a $1.5 billion legal settlement.
The company’s gross profit margin is set to improve dramatically from negative 94% last year to 50% this year, reaching an estimated 77% by 2028. In comparison, its leading competitor projects $13 billion in revenue this year and $100 billion by 2027 but expects to remain cash-flow negative through 2029 due to infrastructure investments.
