New Delhi, Aug. 15 -- As Anthropic prepares for what could be one of the biggest IPOs on record, investors are looking far ahead to decide how much the AI company could be worth.

Anthropic is expected to generate $190 billion to $200 billion in revenue in 2028, sources close to the development told Reuters. This is even bigger than its current $47 billion annual revenue run rate, which it reported in May.

Evaluating a fast-growing company based on its future value is not aberrant. "Backers of Cerebras Systems cited 2028 revenue expectations in the runup to the firm's IPO this year, and SpaceX projections extended as far as 2029 before the company went public at a record valuation in June," the people said.

The sources noted that cloud ...