The Wall Street Journal reports, according to people familiar with the matter, that Anthropic is preparing to tell prospective IPO investors that the total addressable market for its Claude models and related AI services exceeds $30 trillion, a figure that would top the roughly $28.5 trillion total addressable market SpaceX presented ahead of its own offering. The company is said to be considering raising as much as $100 billion at a valuation near $2 trillion, with a market debut possibly as early as September or October if the prospectus process proceeds on the reported timeline. A total addressable market figure like this represents the theoretical ceiling of revenue a company could capture if it won every possible customer for every task its technology could plausibly perform, not a near-term forecast, and finance academics such as NYU's Aswath Damodaran have already flagged similar AI TAM estimates as stretching credibility given that the entire S&P 1500 technology sector generated about $2.4 trillion in revenue last year combined. For engineers and founders building AI-dependent products, the number itself matters less than what it signals: Anthropic is positioning itself, and by extension the broader foundation-model market, as still in the earliest stages of monetization, which has implications for how aggressively competitors may need to price API access, court enterprise customers, and justify continued infrastructure spending as public markets start scrutinizing these claims more closely.