The $600 billion Anthropic revenue forecast credited to Goldman Sachs has no paper trail

A claim is making the rounds on X: Goldman Sachs expects Anthropic’s revenue to exceed $600 billion by 2030. It is a striking number for a company that booked $386 million in revenue in 2024.

The problem is the source. Crypto Briefing could not find any public Goldman Sachs report that contains a $600 billion revenue forecast for Anthropic. The figure looks real. It just appears to belong to a different column of the ledger.

What Anthropic’s numbers actually show

Start with the verified figures, because they are impressive without any help. Anthropic reported $386 million in revenue for 2024.

That figure jumped to $4.585 billion in 2025, more than 11 times the prior year.

The pace did not slow in 2026. Anthropic posted $16.3 billion in revenue for the first half of the year alone.

Its run-rate exceeded $47 billion by May 2026 and kept climbing. That metric is useful for momentum. It is not the same as money already collected over a full year.

Now put the viral claim against that backdrop. Reaching $600 billion by 2030 would require revenue more than 130 times the 2025 total. Even measured from the May 2026 run-rate, it would mean growing more than 12-fold in roughly four years.

Where the $600 billion probably came from

The likeliest origin is Anthropic’s spending, not its sales. According to its S-1 filing, the company’s compute and cloud commitments total well over $600 billion across partnerships with Google, Amazon, and Microsoft.

Put simply: that is money Anthropic has agreed to pay for the servers and chips that run its models. It is a bill, not a paycheck.

Goldman Sachs has published big AI forecasts, which helps explain why the attribution felt plausible. The bank projects total token consumption will rise 24 times by 2030, reaching 120 quadrillion tokens per month.

Goldman has also put a hard revenue number on a different AI business. The bank forecasts $322 billion in AI revenue for SpaceX by 2030, up from a $3.2 billion base in 2025.

So the bank is clearly willing to make aggressive long-range calls. It simply does not appear to have made this particular one about Anthropic.

Why the mix-up matters ahead of an IPO

Timing makes this more than a social media footnote. Anthropic is heading toward an initial public offering, and the S-1 filing is the document prospective investors will lean on.

The verified trajectory is already steep. Going from $386 million to a run-rate above $47 billion in about two and a half years would be a headline achievement for almost any business.

Commitments well over $600 billion represent a massive obligation stretched across three of the largest cloud providers in the world.

Goldman’s 24-fold token growth projection points toward rising demand, since more tokens processed means more demand for exactly the infrastructure Anthropic has locked up. But the token forecast covers the whole market, not one company’s share of it.

Anthropic’s verified growth gives investors plenty to work with. The figures worth tracking now are the ones in its filings, starting with how quickly revenue can close the gap on what it has promised to spend.