$1.2 Trillion Revenue Target for Anthropic to Reach $2 Trillion Valuation

NYU finance professor Aswath Damodaran estimates that Anthropic would need to generate $1.2 trillion in annual revenue within a decade to justify a potential $2 trillion valuation.

This target is approximately 18 times the company's July revenue run rate of more than $65 billion and 1.7 times Amazon's sales generated last year, which were $716.9 billion.

Damodaran worked backward from the $2 trillion figure to calculate the growth and profitability Anthropic would need to deliver for that price to make financial sense.

Anthropic's annualized revenue run rate has climbed from about $9 billion at the end of 2025 to more than $65 billion by the end of July, with the company projecting $190 billion to $200 billion in 2028 revenue.