Digital
Anthropic to pitch investors on over $30 trillion revenue potential: Report
AI firm’s huge TAM estimate could support IPO ambitions and justify spending
CALIFORNIA: Anthropic is expected to tell investors that it sees a total addressable market (TAM) of more than $30 trillion, according to a Wall Street Journal report, putting the AI company’s potential revenue opportunity above the $28.5 trillion estimate disclosed by SpaceX.
TAM refers to the total annual revenue opportunity available if a product or service were to capture the entire market it serves.
According to the Wall Street Journal report, Anthropic is assessing its TAM based on the full range of work that could potentially be completed using AI models.
A TAM of this scale could play an important role in Anthropic’s plans as it prepares for a potential initial public offering. The figure could help support the company’s valuation, provide a rationale for its heavy infrastructure spending and influence its product priorities as competition intensifies with OpenAI and Google.
It could also help frame Anthropic’s broader growth story for prospective investors by highlighting the size of the market the company believes AI can eventually address.
The Claude chatbot maker is projecting revenue of around $190 billion to $200 billion in 2028, with those forecasts expected to be central to its prospective IPO valuation, Reuters reported earlier this month.
The latest TAM estimate would put Anthropic’s claimed opportunity on a scale comparable with some of the world’s largest economic markets. SpaceX said in its May IPO filing that it had identified the “largest actionable TAM in human history”, with most of that opportunity attributed to AI technology.
Anthropic’s approach also reflects how leading AI companies are increasingly defining their opportunity beyond the existing chatbot market. By measuring the potential work that AI models could perform, the company is effectively pitching AI as a technology capable of reshaping a broad range of industries and business functions.
With a potential $30 trillion-plus opportunity now being put before investors, Anthropic is seeking to make a case that its ambitions extend well beyond selling access to Claude. The scale of the figure could become an important part of the company’s investment narrative as it moves towards a possible IPO.
