Anthropic IPO valuation tied to $190-200 bln 2028 revenue forecast

The valuation of Anthropic’s upcoming initial public offering is underpinned by internal forecasts projecting annual revenue of between $190 billion and $200 billion by 2028, according to sources cited by Investing.com.

The revenue outlook, which has not been publicly disclosed, is a key driver for investor discussions on the company’s potential market capitalization. Anthropic, a leading artificial intelligence research firm, has yet to confirm details of its IPO plans, including timing or share pricing.

Analysts note that achieving such revenue figures would require sustained growth in enterprise AI adoption, cloud services, and enterprise software licensing. The company’s current business model centers on AI model development and commercial partnerships, though specifics on revenue composition remain undisclosed.

The $190-200 billion revenue range, if realized, would place Anthropic among the largest technology companies globally by revenue, comparable to major cloud and software providers. However, the timeline and feasibility of such projections remain subject to market conditions, competitive dynamics, and technological advancements in AI.

Investor sentiment toward AI-related IPOs has been mixed in recent quarters, with some high-profile listings underperforming amid broader market volatility. Anthropic’s valuation discussions are expected to intensify as it progresses toward a public listing, with further details likely to emerge closer to the IPO date.