In its IPO prospectus, Anthropic has presented a potential total addressable market (TAM) forecast of over $30 trillion to support its $2 trillion valuation, surpassing SpaceX's previous record of $28.5 trillion for the "largest market in human history," becoming the most ambitious narrative in business history. According to the Wall Street Journal, this figure is not based on current software and hardware sales, but rather on the total economic value and labor costs of all jobs worldwide that could be replaced or completed by AI in the future.

Confidence and Concerns Coexist in the Billion-Dollar Fundraising

It is reported that Anthropic plans to go public in the fall of 2026, aiming to raise as much as $100 billion with a valuation target of $2 trillion. The confidence comes from its soaring financial performance: revenue of $11.6 billion in the second quarter alone, and its first positive adjusted operating profit. Investors are optimistic about its annualized revenue reaching $100 billion by year-end. However, analysts warn that with obstacles in building data centers in the US and increasing competition from low-cost models overseas, the tolerance of the secondary market for such a high valuation is decreasing. Whether the $30 trillion blueprint can convince rational capital remains to be tested after the prospectus is disclosed in September.