Anthropic, a prominent AI company, is poised for significant financial growth, with The Information reporting ambitious projections including generating as much as $70 billion in revenue and $17 billion in cash flow by 2028. These optimistic forecasts are attributed to the rapid adoption of Anthropic’s business products and an aggressive B2B strategy, according to sources familiar with the company's financials.

The company's revenue run rate is expected to more than double, potentially nearly triple, in the coming year. Anthropic aims to achieve $9 billion in annual recurring revenue (ARR) by the end of 2025, with further targets of $20 billion to $26 billion ARR for 2026. This year, Anthropic anticipates its revenue from selling access to its AI models via an API to reach $3.8 billion, a figure that reportedly doubles the $1.8 billion OpenAI expects from its API sales. Additionally, Claude Code is nearing $1 billion in annualized revenue, a substantial increase from approximately $400 million in July.

Anthropic's B2B strategy has become increasingly clear and impactful. The company has forged key partnerships, including a collaboration with Microsoft to integrate Anthropic’s models into Microsoft 365 apps and Copilot. Its partnership with Salesforce has also expanded, and there are plans to deploy its AI assistant, Claude, to hundreds of thousands of employees at major consulting firms like Deloitte and Cognizant.

In terms of product development, Anthropic has consistently introduced improvements designed for enterprise use. Over the past two months, it launched smaller, more cost-effective models—Claude Sonnet 4.5 and Claude Haiku 4.5—which are particularly appealing to businesses deploying AI at scale. Furthermore, the company expanded Claude for Financial Services and introduced Enterprise Search, enabling businesses to connect their internal work applications directly to Claude, enhancing its utility and integration capabilities.

This robust growth positions Anthropic to potentially raise more funds. The startup's last funding round in September was oversubscribed, securing $13 billion from investors and valuing the company at $170 billion. Should it pursue another funding round, Anthropic is reportedly targeting a valuation between $300 billion and $400 billion. The projected $17 billion in cash flow by 2028 signifies a healthy financial state, indicating that the company will have more money flowing in than out from its operations, investments, and financing activities, though it is important to note cash flow is distinct from profit.

While Anthropic faces publicly available liabilities, including a $2.5 billion credit facility and a $1.5 billion legal settlement from a copyright lawsuit, its profitability outlook is strong. The company projects its gross profit margin to reach 50% this year and an impressive 77% by 2028, a significant turnaround from a negative 94% last year.

In comparison to its main rival, OpenAI, recently valued at $500 billion, Anthropic's financial trajectory presents a contrasting picture. OpenAI is also pursuing a B2B strategy, complemented by a strong consumer push fueled by 800 million weekly users. OpenAI expects to generate $13 billion in revenue this year and target $100 billion by 2027. However, while Anthropic projects positive cash flow by 2028, OpenAI anticipates substantial losses, with cash burn expected to reach $14 billion in 2026 and accumulate to $115 billion through 2029 as it scales its infrastructure spending.