The public market is witnessing an unprecedented wave of momentum, highlighted by high-profile stock market debuts from major players like SpaceX, Cerebras, and Jersey Mike’s. Yet the momentum seen so far may only be the beginning as the artificial intelligence boom sets up its next massive chapter. Industry observers are turning their attention toward incoming public offerings from major generative AI pioneers, where eye-watering financial expectations could soon test investor appetite.

Anthropic, the creator behind the Claude artificial intelligence models, has submitted confidential filings to potentially prepare an initial public offering as early as October. Reports indicate that during its upcoming investor roadshows, the firm might project long term addressable market potential reaching above $30 trillion. OpenAI is similarly expected to move toward public listing preparations following significant executive suite changes this summer.

While a multi-trillion market figure sounds astronomical on its face, industry advisors suggest the narrative holds weight when considering total addressable demand across corporate software, automated coding tools, and consumer applications.

“I actually like it [the revenue estimate] because it talks about sort of what the opportunity is. If it’s enterprise, if it’s consumer, it’s coding, it’s actually changing not only how we do work, but also how we develop products. I think it is viable,” Connor Group managing partner Jim Neesen said on Yahoo Finance’s Opening Bid. “I mean, if you look at their revenue growth, $65 billion is their run rate. They were $9 billion last year. That’s a sevenfold increase. I do think that market opportunity is out there.”

The broader capital landscape has already rebounded sharply compared to prior years. Traditional domestic offerings raised around $114.1 billion during the second quarter alone, representing a massive jump over the $14.8 billion recorded in the same quarter of 2025. Over the first six months of the year, 65 traditional public offerings raised $114.2 billion, compared to just 34 deals raising $14.8 billion in the first half of the previous year.

Beyond large language model developers, emerging biotechnology firms are also seeing favorable conditions for public listings. Even with massive infrastructure costs required to build advanced AI systems, experts suggest Wall Street will likely grant these firms breathing room regarding bottom line profits.

“The intuition is Anthropic is a lot closer to that profitability piece,” Neesen said. “But there is massive investment on the capital side that’s continuing going out there. I think there will be a lot of forgiveness.”

As filings proceed, markets will soon discover whether investors buy into these historic projections.