EXCLUSIVE: Anthropic IPO valuation hinges on $190-200 billion 2028 revenue forecast, sources say - Reuters
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- Anthropic's IPO valuation hinges on achieving $190-200 billion in 2028 revenue, according to sources cited by Reuters.
- Fortune frames a $2 trillion problem: investors value Anthropic at $2 trillion even though its underlying business is nowhere near the valuation an IPO at that level would require.
- Gizmodo reports that Anthropic investors believe the company is worth $2 trillion, underscoring the gap between market sentiment and operational scale.
- Anthropic CFO Krishna Rao is named as a key figure in the IPO discussions.
Why it matters: Anthropic must scale revenue to $190-200 billion by 2028 to justify an IPO at the $2 trillion level investors are already pricing in, per the cited sources — a gap that Fortune explicitly flags as the core tension. Whether Anthropic can grow into that valuation will determine the pricing benchmark for the entire private AI sector.
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