Reuters · Echo Wang ·

Anthropic projects 2028 revenue of ~$190B-$200B, vs. a revenue run rate of $47B in May, as bankers and investors price the company ahead of an IPO

As Anthropic prepares for what could be one of the biggest IPOs on record, Wall Street is looking further into the future …

Anthropic Venture Capital

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Anthropic projects 2028 revenue of ~$190B-$200B, vs. a revenue run rate of $47B in May, as bankers and investors price the company ahead of an IPO

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Reuters — Anthropic projects 2028 revenue of ~$190B-$200B, vs. a revenue run rate of $47B in May, as bankers and investors price the company ahead of an IPO ↗

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Coverage

Bloomberg: Docs: Anthropic told investors it generated $11.5B+ in revenue, with positive adjusted operating income, in Q2, up from $787M in Q2 2025 and $4.73B in Q1 2026

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CNBC: CNBC

Tech Times: Tech Times

The Information: The Information

Tech in Asia: Tech in Asia

International Business Times: International Business Times

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Related stories

Financial Times: Anthropic's investors expect it to float at a $2T+ valuation in an October IPO and to hit $100B to $120B in annualized revenue by the end of 2026

Bloomberg: AI coding startup Cognition is in early talks with investors to raise $1B+ at a $40B+ valuation, after raising $1B at a $26B valuation in May

Reuters: Vantage Data Centers, a major hyperscale developer, is exploring options including a sale or an IPO at a valuation of about $100B as soon as next year

The Information: Anthropic has been preparing to give its co-founders shares with extra voting power to help insulate them from outside pressure, ahead of a planned IPO

Ramp: Ramp's July AI index: Anthropic's market share hit 43.5%, widening its lead over OpenAI; Fable 5 is only 6% of tokens businesses bought, likely due to high cost

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