Goldman Sachs, poised to lead Anthropic’s upcoming IPO, has unveiled an exceptionally optimistic forecast for the AI company’s future revenue. According to a report by the Financial Times, the investment bank projects Anthropic’s annual revenue to surpass $600 billion by 2030, a staggering increase that would place it among the world’s largest corporations by revenue.
Aggressive Revenue Growth Projections
The projections, shared with a potential investor, paint a picture of exponential growth for the roughly six-year-old company. Goldman Sachs estimates Anthropic’s revenue to reach approximately $52 billion this year. This figure is expected to climb to $136 billion in 2027, and then surge to $442 billion in 2029, before breaking the $600 billion mark in 2030. This contrasts sharply with the projected $4.6 billion in revenue for 2025.
If these predictions materialize, Anthropic’s scale would rival that of established giants in the global economy. For context, analyst expectations compiled by Visible Alpha suggest Amazon’s revenue could reach around $830 billion this year, while Nvidia’s revenue is anticipated to hit $700 billion by 2027.
Path to Profitability and Cash Flow
Despite the projected revenue surge, Goldman Sachs anticipates that Anthropic will not achieve positive free cash flow until 2030, when it is expected to reach $33.6 billion. This is a notable point, as Anthropic has reportedly seen positive free cash flow in the first three quarters of this year. However, Goldman Sachs forecasts a net outflow of $12.8 billion in the fourth quarter of this year, escalating to $65.7 billion in 2027.
The path to operational profitability also shows a timeline. The investment bank predicts that Anthropic’s operating losses will peak at $40.4 billion in 2027. Profitability is expected to turn positive in 2029, with operating profits reaching $65.2 billion by 2030.
Valuation and IPO Plans
The ambitious growth forecast supports a significant valuation for Anthropic. Based on the upper end of its proposed offering price range, the company’s valuation could reach $1.4 trillion. Reports indicate that Anthropic aims to complete its listing in the United States before Thanksgiving.
Founded by former members of OpenAI, Anthropic has rapidly emerged as a key player in the generative AI space, known for its focus on AI safety and its Claude family of AI models. The company has secured substantial funding from major tech players, including Google and Amazon, in recent years.
The detailed financial outlook from Goldman Sachs underscores the immense potential investors see in the rapidly evolving AI sector and Anthropic’s position within it. While these are projections, they signal strong confidence in the company’s ability to scale and capture a significant share of the future digital economy.
