Driven by Claude AI, is Anthropic set to become the world’s biggest company ever?

YouTube search for Claude and ChatGPT

It was less than 12 months ago there was much talk about people saying “GPT it” rather than “Google it”. That’s all changed. ChatGPT is becoming passé among the tech community, students and those in the know, it’s now all about Claude AI. Figure 1 is a chart from Google trends showing USA YouTube searches for Claude are now 3 times that of ChatGPT, and ChatGPT searches are actually down Y/Y. While overall web searches for OpenAI company & products are still more than Anthropic, even there ChatGPT’s dominance has fallen rapidly in the last few months.

We have already discussed how OpenAI and ChatGPT are being squeezed by Anthropic on one side and open weights AI like Deepseek on the other side. The suggestion now is that because Anthropic is growing so quickly, it is destined to become the world’s highest valued company ever because:

1. Just last month, April 2026, Anthropic revenues were estimated to have been $30 billion for 2026, but that revenue was restricted by capacity constraints.
2. Now that Anthropic has signed a deal with Musk’s xAI to use the compute that it does not require, Anthropic 2026 revenues are expected to be close to $50bn. BTW – this deal is a sign that the xAI’s competing product Grok is not doing as well as planned.
3. If Anthropic does make $50bn in revenues, this shows a multi-year trend of growing revenues at 10 times per year.
4. Add that 10x trend to 2027 and Anthropic will have 500bn in revenues.
5. At $500bn Anthropic has larger revenues than Apple, Google/Alphabet. NVIDIA and Microsoft. Only Amazon revenues at ~$750bn would be higher.
6. As a pure software Anthropic would have far better margins than Amazon and growing much faster.

Some key investors, opinion leaders and investors, eg David Sacks on the all in podcast, are suggesting this might all happen and Anthropic would have a valuation in the many trillions, becoming the world’s most valuable company ever.

Hypothetical growth of Anthropic compared to Mega-5

While we would not claim this is story of Anthropic is impossible, we would say that is it unlikely for a number of reasons, the key ones are:

1. Build out: Adding $40 bn in revenue between 2025 and 2026 is spectacular, but adding another $450 bn a year later is a sum so big that macro factors like, are there even enough customers and applications with that much money, or is there enough energy and compute, become legitimate questions.
2. Competition: Other models, especially open weights AI models from Deepseek and others are likely to drive down the premium pricing that Anthropic is enjoying right now.

We have always been big Anthropic users at ChatBar AI and Claude Sonnet in particular remains a customer favourite. However, we also see more and more tasks where AI models from other vendors have an advantage over Anthropic, e.g. last month we used OpenAI’s GPT-5.4-codec more often than Claude for coding, so OpenAI might still make a comeback. Furthermore, we had our first month where more than 10% of our tasks ran on open weights models that were far cheaper and faster than Anthropic AI models.