An early Anthropic backer predicts a post-IPO valuation of up to $2.4 trillion, topping SpaceX

One prominent early investor in Anthropic believes the company will surpass SpaceX as the most valuable IPO ever. According to this source, the investor anticipates Anthropic's IPO shares to be priced at approximately $1.8 trillion, but with a potential "trading value" soaring to $2.3 to $2.4 trillion. This outlook contrasts with SpaceX's opening day market cap of $2.1 trillion, which currently sits at $2.03 trillion.

The VC's confidence in Anthropic's lofty valuation stems from the company's enterprise-focused foundation models, which are considered the top of the line in the field. Foundational models, capable of various applications like large language models, computer vision, robotics, and agentic workflows, are deemed immensely valuable due to their general-purpose nature.

While both Anthropic and OpenAI are formidable competitors, the investor feels Anthropic possesses a more stable approach, citing its founder Dario Amodei's strong principles. Notably, Anthropic derives approximately 80% of its revenue from enterprise customers, contrasting with OpenAI's more balanced business model. The investor also highlights Anthropic's rapid growth as a significant advantage, asserting that the company can sustain its immense valuation despite potential challenges in the future.