AI Valuations Soar as Anthropic's IPO Math Outpaces SpaceX's

Anthropic's IPO math just got more aggressive than SpaceX's. The AI company is preparing to tell investors it sees a $30 trillion revenue opportunity, exceeding SpaceX's $28.5 trillion TAM. Anthropic's annualized revenue run rate hit $65 billion by end of July, up sevenfold from $9B at end of 2025. Projected 2028 revenue: $190-200B. IPO expected as soon as October with a valuation range of $1 trillion to $2 trillion. This sets a new bar for AI IPO ambitions.

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