Leaked January presentation: Coatue estimated that Anthropic would lose $14B in EBITDA on $18B in revenue in 2026 and reach a $1.995T valuation in 2030
We talk about it & more on the Cerebral Valley Show
Lead Source
How this story grew
Discussion
TechSnif Coverage
Coatue Projects Anthropic Hitting $2T Valuation by 2030
Leaked investor deck shows Coatue forecasting massive losses and a nearly $2 trillion valuation for the AI company.
A leaked January presentation from investment firm Coatue paints a wild financial picture for Anthropic. The deck, shared with prospective investors, projects the Claude maker will pull in $18 billion in revenue in 2026 — while hemorrhaging $14 billion in EBITDA losses.
That's a staggering burn rate, even by AI industry standards. But Coatue apparently sees it as worth it.
The firm's longer-term forecast is even more eye-popping: a $1.995 trillion valuation for Anthropic by 2030. That's trillion with a T — putting the AI safety-focused startup in the same league as today's biggest tech giants.
The presentation, first reported by Eric Newcomer, offers a rare window into how major investors are modeling the economics of frontier AI companies. The bet is clear: spend massive amounts now, dominate later.