Anthropic, a competitor to Microsoft-backed OpenAI, has projected its revenue to potentially soar to $34.5 billion by 2027, according to a report from The Information. The company anticipates a base case scenario of $12 billion in revenue for that year, up from $3.7 billion expected this year and $2.2 billion in 2025. This comes after Anthropic reported burning $5.6 billion in cash last year, with plans to reduce this to $3 billion in 2025, and aims to stop burning cash by 2027. The AI startup, which sells access to its models directly and through third-party cloud services like Amazon Web Services, is also nearing a deal to raise $2 billion at a valuation of $60 billion. Anthropic expects its API revenue to triple that of OpenAI's by 2027 as part of its efforts to compete in the rapidly growing AI market.