Goldman Sachs Projects Anthropic Revenue to Top $600 Billion by 2030

IT之家 November 10 news, according to a report by the UK's Financial Times this evening (the 10th), Goldman Sachs, the lead investment bank for Anthropic's IPO, has given an optimistic forecast for Anthropic's future: revenue will exceed $600 billion by 2030 (IT之家 note: approximately 4.01 trillion yuan at current exchange rates), more than 130 times that of 2025.

Forecasts disclosed by Goldman Sachs to a potential investor show that Anthropic's revenue is expected to be approximately $52 billion this year (approximately 347.702 billion yuan at current exchange rates), rising to $136 billion in 2027 (approximately 909.375 billion yuan at current exchange rates), reaching $442 billion in 2029 (approximately 2.96 trillion yuan at current exchange rates), and further exceeding $600 billion by 2030 (approximately 4.01 trillion yuan at current exchange rates).

By comparison, Anthropic's revenue in 2025 was only $4.6 billion (approximately 30.758 billion yuan at current exchange rates).

Founded only about 6 years ago, Anthropic's growth is astonishing. If Goldman Sachs' forecast comes true, Anthropic will rank among the world's largest companies by revenue scale.

However, Goldman Sachs expects that Anthropic will not achieve positive free cash flow until 2030, when it will reach $33.6 billion (approximately 224.669 billion yuan at current exchange rates).

Although Anthropic achieved positive free cash flow in the first three quarters of this year, Goldman Sachs expects a net outflow of $12.8 billion in the fourth quarter of this year (approximately 85.588 billion yuan at current exchange rates), and the net outflow in 2027 will reach $65.7 billion (approximately 439.309 billion yuan at current exchange rates).

Calculated at the upper limit of the proposed offering price range, Anthropic's valuation will reach $1.4 trillion (approximately 9.36 trillion yuan at current exchange rates).

It is reported that Anthropic is expected to complete its IPO before US Thanksgiving. Goldman Sachs expects Anthropic's operating loss to peak at $40.4 billion in 2027 (approximately 270.138 billion yuan at current exchange rates), turn positive in 2029, and reach $65.2 billion by 2030 (approximately 435.965 billion yuan at current exchange rates).

If revenue meets Goldman Sachs' expectations, Anthropic will rank among the world's highest-revenue companies. Analyst expectations compiled by Visible Alpha show that Amazon's revenue this year is expected to be approximately $830 billion (approximately 5.55 trillion yuan at current exchange rates), while Nvidia's revenue in 2027 is expected to reach $700 billion (approximately 4.68 trillion yuan at current exchange rates).