AI startup Anthropic is reportedly on track to generate US$70 billion in revenue by 2028, fueled by growing enterprise adoption and rapid expansion in API sales. TechCrunch, referencing The Information, reveals the company anticipates US$17 billion in cash flow accompanying its projected revenue growth.
Anthropic's API sales are reportedly expected to significantly outpace OpenAI's by 2025, with forecasts estimating US$3.8 billion compared to OpenAI's US$1.8 billion in the same segment. Its Claude Code product has seen substantial uptake, generating nearly US$1 billion in annualized revenue, more than doubling from US$400 million just six months earlier.
Despite earlier uncertainties regarding Anthropic's revenues, recent reports underscore the AI firm's rapid progress in narrowing the revenue gap with OpenAI. As Reuters reported in October, sources estimate Anthropic's annualized revenue could reach US$9 billion by the end of 2025, with projections rising to between US$20 billion and US$26 billion in 2026. Anthropic has officially stated its current annualized revenue is approximately US$7 billion.
OpenAI's CEO, Sam Altman, responded to these figures during a recent podcast, confirming that OpenAI has already surpassed US$13 billion in revenue. Altman expressed confidence that the company would exceed US$100 billion in revenue by 2027. However, OpenAI continues to operate at a loss, with market analyses revealing escalating capex. These expenses are now expected to top US$115 billion by 2025 and accumulate to the same total by 2029, representing a significant increase from prior US$80 billion forecasts.
The competitive landscape in AI growth suggests both companies are investing heavily to capture market share. Anthropic's surge in enterprise customers and strong API sales point to its growing foothold in the sector, while OpenAI's aggressive spending underlines its long-term growth strategy despite short-term financial losses.
Article edited by Jack Wu
