Anthropic Could Generate $685B in Annual Revenue by 2030, Goldman Sachs Predicts

Anthropic could generate as much as $685 billion in annual revenue by 2030, according to Goldman Sachs analysts cited by Bloomberg, underscoring the lofty expectations surrounding the AI company’s planned IPO.

Enterprise sales are projected to account for $586 billion of that total, with another $100 billion coming from non-enterprise customers, Bloomberg reported. The forecast represents nearly 150 times Anthropic’s $4.58 billion in revenue last year.

Anthropic is targeting a valuation of approximately $1 trillion to $1.4 trillion. The Claude maker has set an IPO price range of $70 to $78 per share, with pricing scheduled for the evening of Nov. 18. Shares are expected to begin trading on the Nasdaq under the ticker "ANT" on Nov. 19, according to its filing.

Are AI Valuations Justified?

Underwriters met with prospective investors to market the IPO, which aims to raise $90.4 billion, including a $26 billion private placement. Anthropic began pitching the offering at a fully diluted valuation of approximately $1.4 billion, Bloomberg’s calculations reveal.

Goldman analysts expect the company to remain free-cash-flow negative annually until 2030 as heavy investments weigh on the company’s finances. 

The bank projects that spending on compute infrastructure will increase more than tenfold by the end of the decade, reaching nearly $400 billion, while compute profits are expected to rise at a comparable pace.

Investors face a difficult decision about whether AI valuations are justified by the technology’s potential to reshape the economy or reflect excessive optimism about a sector whose long-term staying power remains unproven. 

Photo: RixAiArt / Shutterstock – ek