Ahead of an expected initial public offering, artificial intelligence company Anthropic is preparing to present investors with a total addressable market estimate of more than $30 trillion. According to reports, this figure represents the estimated annual revenue if the company captured its entire market range across sectors including programming, research, customer service, finance, media, health care, and logistics.
The $30 trillion projection puts Anthropic's estimate ahead of SpaceX's $28.5 trillion figure from its May filing, which included $26.5 trillion from artificial intelligence opportunities. By comparison, Uber valued its potential market at $6 trillion when it went public in 2019, while WeWork previously pointed to a $3 trillion opportunity.
Anthropic's business expansion precedes its expected public listing. Second-quarter revenue reached $11.6 billion, more than doubling previous levels and marking the first quarter in which Anthropic's sales surpassed those of OpenAI, which reported $6.7 billion in revenue for the period ending in June. During the same period, Anthropic recorded a small operating profit by excluding stock-based compensation from its adjusted earnings updates.
Both companies navigate competitive pressures, including competition from cheaper Chinese models that have influenced corporate investment. OpenAI lowered prices for two new models amid slower growth for ChatGPT and implemented management adjustments, while Anthropic has worked to address investor concerns regarding market competition prior to its IPO.
