Anthropic IPO — Short Analysis

💰 $1T valuation: ~5× 2028 revenue

🟡 $2T valuation: ~10× revenue

🔥 $3T valuation: ~15–16× revenue

📈 2028 projected revenue: ~$190–200B

💵 If 10B diluted shares: $100 / $200 / $300 per share

🤖 OpenAI: ~$1.2T discussed valuation

🚀 SpaceX: ~$1.77T IPO valuation

⚠️ Main risk: huge AI compute and infrastructure costs

Bottom line: A $2T Anthropic valuation would require very strong revenue growth and significant future profitability.