memeburn.com
Oct 6, 2026
Is Anthropic Worth $2 Trillion? At 435x Sales, No. On 2026 Revenue, It’s Cheaper Than SpaceX
AI-summarised brief · reviewed before publication
Anthropic’s proposed $2 trillion IPO target has sparked debate after analysts revealed the company’s 2025 revenue of $4.6 billion, yielding a price‑to‑sales ratio of 435×—the highest among tech firms. Using 2026 projections, the multiple drops to 62× (first‑half doubled), 43× (second‑quarter annualized) or 31× (July run rate). Compared to peers, the valuation would be cheaper than SpaceX’s 67× multiple but still far above the 9.2× of Meta and 5.7× of Samsung. The figure originates from Goldman Sachs, JPMorgan and Morgan Stanley, doubling the $965 billion Series H valuation.
💡 Why It Matters
- · The starkly inflated multiple highlights how IPO targets can distort market perceptions, prompting investors to scrutinize revenue assumptions before committing capital.
