What valuation does Scott Galloway predict for the Anthropic IPO?

Scott Galloway guessed Anthropic will list at about $2 trillion. His reasoning: if revenue runs near $40 billion this year and grows five times rather than ten, that is around $200 billion of sales, so $2 trillion is about ten times forward revenue, which he says looks cheap next to SpaceX. Kara Swisher added that the listing comes after the midterm election.

Galloway listed the main risks as unclear regulation, low public trust in AI, power shortages, compute commitments and rivals.
He cited polling that 75% of Chinese people trust AI against 25% of Americans.
He named Nvidia's on-device chips and Meta's free model as competitive threats.

▸In their words

“If they're at a run rate of 40, I think it goes out at $2 trillion” Scott Galloway · at 38:39 — open in the transcript →

Source: our own transcription of the episode. The full conversation is on Pivot (2026-10-27). Read the whole episode summary →

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