Rohan Paul

FT: Goldman Sachs projects Anthropic’s revenue will top $600B in 2030, more than 130 times its 2025 number. The model, shared verbally with a potential investor as the IPO roadshow begins, has revenue reaching about $52B this year, $136B in 2027 and $442B in 2029. At that price, buyers are paying for compute that converts to revenue on schedule, so any slip in data centre build-out would widen the 2027 cash hole first.