Anthropic is reportedly preparing to pitch a more than $30 trillion AI-driven market opportunity as it moves closer to a potential IPO targeting a $2 trillion valuation.
Anthropic, the maker of Claude, is expected to disclose a potential revenue opportunity of more than $30 trillion to investors, surpassing the $28.5 trillion estimate previously cited by SpaceX, according to a Wall Street Journal report.
Companies preparing to go public often disclose estimates of their total addressable market (TAM) to demonstrate to investors that they have significant room for future growth. These figures estimate the amount of revenue a company could theoretically capture if it achieved 100% market share, using inputs ranging from industry data to financial models prepared by bankers.
While TAM estimates often become headline figures, they are not necessarily reliable measures of how the rapid adoption of artificial intelligence could reshape entire industries.
To calculate its TAM, Anthropic is reportedly looking at the full range of work that could potentially be completed using AI models. The company has also recorded rapid growth in the recent past, more than doubling its revenue to $11.6 billion in the second quarter.
Before Anthropic, Elon Musk’s SpaceX described its TAM as the “largest actionable” market in “human history” when it disclosed the figure in the May filing. The company’s $26.5 trillion estimate was largely attributed to opportunities related to AI.
SpaceX shares initially jumped following its IPO but have since fallen, reaching a low of $105 before recovering to around $135, according to the report. Anthropic is reportedly aiming to raise as much as $100 billion in its offering, compared with the $86 billion raised by SpaceX. Anthropic is also targeting a valuation of around $2 trillion, slightly above SpaceX’s $1.77 trillion valuation.
Anthropic is expected to file its IPO financial disclosure documents in the coming weeks, potentially paving the way for the company to go public as early as September or October.