Anthropic sees a market opportunity of more than $30 trillion ahead of its IPO

Anthropic wants to sell investors on a theoretical market opportunity worth more than $30 trillion ahead of its planned IPO. The company is expected to put its total addressable market (TAM) at that figure, the Wall Street Journal reports. To get there, Anthropic counts all the work that AI models could take on.

The TAM is the annual revenue a company could theoretically reach if it owned 100 percent of the market. That would put Anthropic ahead of SpaceX, which claimed $28.5 trillion in May and called it the "largest actionable TAM in the history of mankind." A simple comparison shows why the numbers draw doubts. The 191 tech firms in the S&P 1500 pulled in a combined $2.4 trillion last year, according to FactSet.

Anthropic doubled its revenue in the second quarter to $11.6 billion. It expects revenue of roughly $190 billion to $200 billion by 2028. The company is chasing a valuation of about $2 trillion, wants to raise up to $100 billion, and could go public in September or October.

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