Citigroup lifts AI market forecast to more than US$4.2 trillion

[BENGALURU] Citigroup raised its global artificial intelligence market forecast.

The Wall Street brokerage cited faster-than-expected enterprise adoption of artificial intelligence tools for coding and automation, with companies such as Anthropic showing strong revenue growth.

Citi, in an Apr 27 note, expected the global AI market to reach more than US$4.2 trillion by 2030, with roughly US$1.9 trillion of that tied to enterprise AI.

It previously forecast the global AI market to be worth more than US$3.5 trillion, with nearly US$1.2 trillion driven by enterprise AI.

Here are the key points from Citi’s note on Anthropic:

Enterprise demand and revenue are being driven by Claude models and Claude Code, and Mythos represents potential future benefits rather than near-term monetisation.

Anthropic is “the leader in enterprise AI” due to strong traction in commercial uses such as software development, and agentic, task-automating workflows.

Early and sustained focus on enterprise customers has given the company a structural advantage, even as it navigates rising compute costs, capacity constraints and intensifying competition from rival AI labs.

About 80 per cent of Anthropic’s revenue comes from enterprise customers, reflecting a deliberate shift away from consumer-first AI strategies.

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Its annualised revenue run rate has surged past US$30 billion by April, one of the fastest growth trajectories in tech history.

The company has signed major computing-capacity deals, including up to US$40 billion from Google earlier this week and as much as US$25 billion from Amazon.

The competition is tightening as OpenAI, Google and others push deeper into enterprise markets, shifting the battle towards workflow integration and reliability rather than AI model benchmarks. REUTERS