Introduction
Anthropic, one of the leading players in generative artificial intelligence, has set extraordinary financial targets for 2028. According to a report by The Information, the company aims to generate up to $70 billion in revenue and $17 billion in cash flow by 2028. These ambitious projections represent exponential growth compared to current performance and position Anthropic as one of the most aggressive players in the enterprise AI sector.
The projected growth is fueled by rapid adoption of Anthropic's business products, particularly the Claude model family, and an increasingly incisive B2B strategy that is winning over large organizations across multiple sectors.
Context: Anthropic's Growth Trajectory
Anthropic's financial projections show impressive year-over-year growth. According to Reuters, the company is on track to meet a goal of $9 billion in annual recurring revenue (ARR) by the end of 2025, with a target set between $20 billion and $26 billion for 2026.
For 2024, Anthropic expects to generate $3.8 billion from selling access to its AI models through APIs, a figure that significantly exceeds the $1.8 billion in revenue OpenAI expects to generate from the same segment. A particular success story is Claude Code, which is approaching $1 billion in annualized revenue, nearly tripling the approximately $400 million recorded in July.
These numbers demonstrate how Anthropic is rapidly capturing market share in the enterprise segment, differentiating itself from competitors through an approach strongly oriented toward business needs.
Anthropic's Aggressive B2B Strategy
In recent weeks, Anthropic's business-to-business strategy has become increasingly evident through strategic partnerships and high-profile collaborations. The company recently began partnering with Microsoft to integrate Anthropic's models into Microsoft 365 apps and Copilot, bringing Claude directly into the daily workflow of millions of professionals.
Anthropic has also expanded its Salesforce partnership and is planning to roll out its AI assistant Claude to hundreds of thousands of employees at major organizations like Deloitte and Cognizant. These collaborations allow the company to rapidly scale its presence in the enterprise market, reaching users through already-established platforms.
Product Innovation for the Enterprise Market
On the innovation front, Anthropic has launched smaller, more cost-effective models in the last two months - Claude Sonnet 4.5 and Claude Haiku 4.5 - designed specifically for businesses deploying AI solutions at scale. These models offer an optimal balance between performance and operational costs, making them particularly attractive for extended enterprise deployments.
The company has also expanded Claude for Financial Services, a vertical solution for the financial sector, and introduced Enterprise Search, which enables organizations to connect all their internal work apps to Claude, creating an integrated artificial intelligence ecosystem.
Funding Prospects and Valuation
The growth projections could lead Anthropic to seek additional funding in the coming months. The company raised $13 billion from investors in September in an oversubscribed round that valued Anthropic at $170 billion. According to The Information, if it launches a new funding round, Anthropic could target a valuation between $300 billion and $400 billion.
These valuations reflect investor confidence in Anthropic's ability to execute its growth strategy and compete effectively with rivals like OpenAI in the enterprise artificial intelligence market.
Profitability and Cash Flow Analysis
Anthropic's cash flow projections for 2028 amount to $17 billion. It's important to note that cash flow is not equivalent to net profit: it simply indicates that the company has more money coming in than going out from its operations, investments, and financing activities.
Anthropic currently faces significant liabilities, including a $2.5 billion credit facility and a $1.5 billion legal settlement from a copyright lawsuit brought by a group of authors against the company.
Despite these challenges, the company expects its gross profit margin - which measures profitability after accounting for direct costs associated with producing goods and services - to reach 50% this year and 77% in 2028, up from a negative 94% margin recorded last year. This dramatic improvement demonstrates growing operational efficiency and the scalability of Anthropic's business model.
Comparison with OpenAI: Two Different Strategies
Anthropic's main rival, OpenAI, recently valued at $500 billion, is pursuing a B2B strategy coupled with a strong consumer push fueled by its 800 million weekly users. OpenAI expects to generate $13 billion in revenue this year and reach $100 billion in revenue in 2027.
However, while Anthropic projects positive cash flow by 2028, OpenAI expects sizable losses, with cash burn reaching $14 billion in 2026 and expected to mount to $115 billion through 2029 as the company ramps up infrastructure spending.
This fundamental difference in financial strategies highlights two distinct approaches to growth in the AI sector: Anthropic favors a path toward profitability through operational efficiency and an enterprise market focus, while OpenAI aims for faster growth through massive infrastructure investments, accepting significant short-term losses.
Conclusion
Anthropic's financial projections for 2028 reflect the company's ambition to become a dominant leader in the enterprise artificial intelligence market. With a combination of targeted product innovation, strategic partnerships, and a disciplined approach to profitability, Anthropic is charting a distinct path compared to its competitors.
The success of this strategy will depend on the company's ability to maintain the pace of innovation, effectively scale its operations, and continue winning large enterprise clients. If Anthropic manages to achieve these ambitious goals, it could redefine the competitive landscape of AI and establish new standards for profitability in the sector.
FAQ
What revenue will Anthropic generate by 2028?
According to The Information, Anthropic expects to generate as much as $70 billion in revenue and $17 billion in cash flow by 2028, driven by rapid adoption of its business products.
What are Anthropic's current API revenues?
Anthropic expects its revenue from selling access to its AI models through APIs to hit $3.8 billion this year, exceeding the $1.8 billion OpenAI expects from the same segment.
How does Anthropic's strategy differ from OpenAI's?
Anthropic aims to achieve positive cash flow by 2028 with an enterprise market focus, while OpenAI expects significant losses while investing heavily in infrastructure for faster growth.
What strategic partnerships has Anthropic established?
Anthropic began partnering with Microsoft to integrate Claude into Microsoft 365 and Copilot, expanded its Salesforce partnership, and planned rollouts at Deloitte and Cognizant.
What new models has Anthropic launched for businesses?
Anthropic launched Claude Sonnet 4.5 and Claude Haiku 4.5, smaller and more cost-effective models designed for businesses deploying AI at scale.
What is Anthropic's current valuation?
Anthropic was valued at $170 billion in its last $13 billion funding round in September. If it raises again, it could target a valuation between $300 billion and $400 billion.
How will Anthropic's gross profit margin improve?
Anthropic expects its gross profit margin to reach 50% this year and 77% in 2028, up from a negative 94% last year, demonstrating operational efficiency.
How much is Claude Code worth to Anthropic?
Claude Code is close to generating $1 billion in annualized revenue, up from about $400 million in July, showing strong growth in the developer segment.