Goldman Sachs forecasts that Anthropic will generate more than $600 billion in revenue by 2030, a projection reported by the Financial Times on November 10. Bloomberg’s analysis of the Goldman projections put the figure at about $685 billion, including roughly $586 billion from enterprise customers and about $100 billion from other sources. The projections show free cash flow remaining negative until 2030, when it is expected to reach $33.6 billion. Anthropic’s revenue was forecast at $4.585 billion in 2025, while its run-rate was reported at $81 billion by the end of October, compared with an earlier figure above $47 billion in May 2026. Goldman Sachs is serving as lead underwriter for a proposed IPO involving 825 million shares priced at $70 to $78 each, potentially raising $57.75 billion to $64.35 billion, alongside a planned $26 billion private placement and a fully diluted valuation of $1.4 trillion. Anthropic was valued at $965 billion post-money in its May 2026 Series H round. Goldman did not disclose a specific growth rate or the basis for its revenue forecast. The growth case depends on enterprise AI adoption and more than $900 billion in committed compute and cloud infrastructure spending, while earlier public analysis had questioned whether a Goldman report supporting the $600 billion figure was available and suggested it might instead refer to infrastructure commitments.