AI company Anthropic will likely tell its investors that it anticipates its total addressable market (TAM) surpassing the $ 30 trillion mark, which is higher than the $28.5 trillion that SpaceX expects, according to a Wall Street Journal report.
SpaceX, while filing its IPO in May, said it had identified the "largest actionable TAM in human history," most of which it attributed to AI technology.
TAM is the maximum annual revenue a product can generate for a company if it is adopted by 100% of the market.
The publication revealed that, to quantify its TAM, Anthropic examined the full scope of work that its AI models can perform.
This large TAM will help the company justify its valuation and heavy infrastructure spending, guide its product priorities, and frame its rivalry with other AI giants like OpenAI and Google.
The market debut of Anthropic can indeed break the record set by SpaceX, as widely reported in the US media.
The company itself "expects to match or beat the size" of SpaceX's deal, as per a Bloomberg report.
SpaceX went public in June 2026, when it was valued at $1.77 trillion. The company raised $85.7 billion in its initial public offering.
Anthropic's bankers have told potential investors that the company could seek to raise "more than $100 billion" in its IPO, which would put its total valuation at $2 trillion, according to a report by the New York Times on Friday.
This would more than double its valuation to $965 billion, reached in its last funding round in June.
Only giants of the tech industry which have been around for considerable periods of time, like Apple, Microsoft, and Nvidia, have managed to surpass the $2 trillion mark, which Anthropic, a five-year-old company, is planning to touch.
Anthropic filed to go public in June, and it could release its public offering prospectus in the coming weeks, according to the Times, while shares could be listed in autumn.
Anthropic was founded in 2021 by Dario and Daniela Amodei, along with other former OpenAI executives.
Its coding assistant, Claude Code, has become Anthropic's most popular product, helping it raise its projected annual revenue to a whopping $47 billion.
The company's success has been accompanied by problems in meeting demand for computing power amid a global chip crisis.
