Anthropic Projects $70 Billion in Revenue, $17 Billion in Cash Flow in 2028

Anthropic this summer hiked its most optimistic growth forecasts by roughly 13% to 28% over the next three years and projected generating as much as $70 billion in revenue in 2028, up from close to $5 billion this year, according to a person with knowledge of the company’s financials.

The company expects demand from businesses for its AI models to drive that growth. Anthropic projected that its 2025 revenue from selling access to these models through an application programming interface will be roughly double the revenue its bigger rival OpenAI generates from API sales.