New Delhi, Aug. 15 -- The math Anthropic needs to justify a $2 trillion valuation requires the company to grow revenue faster than any technology firm in recorded history, a target that has less to do with artificial intelligence and more to do with whether investors will accept that the ordinary rules of corporate pricing no longer apply.

$190 billion to $200 billion in annual revenue by 2028. Anthropic's annualized run rate is currently $47 billion, up from $9 billion at the start of the year. The gap between those two numbers, closed in under three years, is the entire thesis.

For context on what that would mean: Amazon, the most profitable technology company on earth by most measures, reported $77.7 billion in operating income last ...