Observed Signal · Mar 30, 2026 · Funding · Source: Newcomer · Impact: 3/5 · Sentiment: Positive
Coatue Projects Anthropic at $1.995T by 2030
Leaked January 2026 slides from investor Coatue show aggressive financial projections for Anthropic, forecasting a $1.995 trillion valuation in 2030 and up to $2.413 trillion in 2031. Coatue’s model projects Anthropic losing $14 billion EBITDA on $18 billion revenue in 2026 while reaching a $30 billion annualized run-rate that year. By 2031, the firm projected $48 billion EBITDA on $200 billion revenue and $224 billion ARR, implying a 41x forward EBITDA multiple. The newsletter notes a recent report that Anthropic is at $19 billion ARR and that Coatue co-led a $30 billion Series G in February that valued Anthropic at $380 billion. Coatue declined to comment; the slides were shared by an anonymous source.
High-profile investor projections and a massive Series G in a major AI company signal substantial capital and market expectations for large-language-model providers, which can influence AI supply, partnerships, and martech vendor strategies.
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Key Takeaways & Evidence Grounding
- Leaked Coatue presentation (January 2026) projects Anthropic at a $1.995 trillion valuation in 2030 and $2.413 trillion in 2031.
- Coatue projected Anthropic would lose $14 billion EBITDA on $18 billion revenue in 2026 and end 2026 with a $30 billion annualized run‑rate.
- By 2031, Coatue projected Anthropic would generate $48 billion EBITDA on $200 billion revenue and have $224 billion ARR (41x forward EBITDA multiple).
- In February 2026, Coatue co‑led a $30 billion Series G investment that valued Anthropic at $380 billion.
- The slides were provided by an anonymous source and Coatue declined to comment.
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Anthropic $2T IPO Predicted from Leaked Coatue Deck
A Substack analysis reports that six Anthropic investors told the Financial Times they expect the Claude-maker to go public in October 2026 at a valuation of $2 trillion or more. The claim is based on a leaked Coatue investor deck (using December 2025 company data) that shows Coatue's entry price, a modeled 2030 exit, and a projected 35% IRR if an October 2026 offer materializes. The newsletter also highlights Stripe's new stablecoin yield product, Tempo Earn, offering up to 4% annual yield and references a 'GENIUS Act workaround' enabling the product after regulatory changes. Publication date provided in the page metadata is 2026-08-14.
Anthropic $50B raise could value company at $900B+
Anthropic is soliciting investor allocations for a private financing expected to be roughly $50 billion and could close within two weeks, according to sources. The company has been targeting a valuation near $900 billion, and strong demand from investors could push the final price higher. Some earlier backers (notably those who invested in 2024 or earlier) are reportedly skipping this round and may wait to sell shares in an anticipated IPO later this year. Anthropic says its fundraising will support large-scale computing needs; the company recently reported an annual revenue run rate above $30 billion, with sources placing it closer to $40 billion. Anthropic’s prior round in February valued the company at $380 billion; at a $900 billion valuation it would exceed OpenAI’s recent $852 billion post-money mark.
Anthropic Declines VC Offers Valuing It at $800B+
Anthropic has reportedly rebuffed venture capital offers that would value the company at $800 billion or more, according to Bloomberg and TechCrunch. The startup, maker of the Claude family of models, previously raised a $30 billion round at a $380 billion valuation and faces large capital needs — including reported commitments of $50 billion for data centers, $30 billion for Microsoft cloud services, and ongoing multi‑billion dollar AWS spend. Investors are reportedly encouraged by Anthropic’s rising revenue (cited as $30 billion by end of March, up from $9 billion at end of 2025) and strong secondary‑market demand for its shares. Anthropic declined to comment. The situation could change if Anthropic opts to raise capital on favorable terms that would potentially exceed its prior valuation or rival OpenAI’s $852 billion post‑money valuation from February.
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