Anthropic has set a $2 trillion valuation for its upcoming IPO, backing it with a projected total addressable market of over $30 trillion based on the future economic value and labor costs of jobs that could be replaced or assisted by AI globally. The company plans to list in fall 2026, aiming to raise up to $100 billion. It reported $11.6 billion in revenue in the second quarter and its first positive adjusted operating profit, with investors expecting annualized revenue to reach $100 billion by year end. However, analysts note challenges including difficulties building data centers in the US and rising competition from cheaper AI models overseas, which may reduce secondary market support for the high valuation. The validity of its $30 trillion market forecast will be tested after the prospectus is released in September.