SpaceX’s unprecedented public offering appears to be just the first in a series of major events – Anthropic’s initial public offering (IPO) may be just as sensational. Developers of chatbot Claude may reportedly tell investors more than $30 trillion in potential revenue, which would exceed the $28.5 trillion SpaceX says wall street journal.
Image source: anthropoic.com
Young companies about to go public often provide estimates of their total addressable market to indicate growth potential—the amount of revenue the company could generate if it captured 100% of the market; a variety of data, from industry to bank models, are taken into account. These estimates are partly guesswork and quite vague, so we’re talking about attempts to predict how the rapid introduction of artificial intelligence will revolutionize entire industries. SpaceX names its total potential “Best Prospects” The market is “The History of Mankind”;Most of that $26.5 trillion is related to artificial intelligence capabilities. That’s an astronomical amount compared to past IPOs, and prompted some skepticism on Wall Street. Based on the mileage of all private cars and public transportation services around the world, Uber’s revenue in 2019 reached US$6 trillion; WeWork stated that its financing scale was US$3 trillion, but the IPO ultimately did not proceed.
To quantify its score, Anthropic based it on the total amount of work that could be accomplished using an AI model. At the end of the second quarter, Anthropic’s revenue doubled to $11.6 billion. To understand the scale of its strategy, it’s important to note that the 191 technology companies in the S&P 1500 brought in $2.4 trillion in revenue over the past year. Immediately after SpaceX went public, its stock price soared, but that didn’t last long: In early August, the stock price fell below $105 per share and is currently trading around its offering price, which reached $135. If investors believe in Anthropic’s potential, its product could surpass SpaceX in other ways.
During the rights offering, Anthropic expects to raise as much as $100 billion — SpaceX has raised $86 billion, people familiar with the matter said. Developer Claude’s valuation target is $2 trillion, while SpaceX limits it to $1.77 trillion. Anthropic’s plans are still being discussed and numbers are subject to change. The company is expected to file financial documents for the IPO in the coming weeks; it could hit the stock exchange in September or early October.
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