Anthropic will tell IPO investors its addressable market runs past $30T, according to the Wall Street Journal. A TAM is what a company would book if it captured every dollar in its market, and pre-IPO companies use it to explain the distance between current revenue and the valuation they want. Anthropic gets to the number by skipping categories like enterprise software or cloud and counting instead the value of the human work its models could do, across legal, accounting, engineering, and outsourced business processes. US annual GDP is about $32.5T. Alex Brunicki at Backed VC said professionals will read the figure as a mission statement and run their own numbers, while retail investors take it at face value, and he expects cheap open-source rivals to squeeze Anthropic’s share.
