Citrini analyst predicts Anthropic's ARR to reach $120 billion by end of 2026.

Huo Xing Cai Jing reports that on August 13, Citrini analyst Jukan noted that Anthropic’s investors expect the company’s annualized recurring revenue (ARR) to reach $100 billion to $120 billion by the end of 2026. This figure is based on the company’s preferred method of calculating annualized revenue—extrapolating recent performance to full-year sales—implying that Anthropic will achieve more than a tenfold increase in revenue for the full year of 2026. One investor stated: “If Anthropic grows 800% in a year, even the most conservative valuation would be 30 times revenue, making it a $3 trillion company.” This expectation aligns coherently with Anthropic’s previous valuation trajectory—from a $380 billion valuation in February, to a recent funding round valuing it close to $1 trillion, and now investor discussions around a $2 to $3 trillion IPO valuation. Anthropic has already confidentially filed for an IPO earlier this year and could debut as early as October with a valuation nearing $1 trillion. If ARR reaches $100 billion to $120 billion by year-end, its business model and growth trajectory will further widen the gap between Anthropic and its competitors among leading AI labs.