Anthropic and SpaceX Pitch Addressable Markets Near the Size of US GDP

Anthropic is reportedly telling IPO investors that its total addressable market exceeds $30 trillion, while SpaceX has pitched a $28.5 trillion opportunity. For comparison, the entire US economy is roughly $32 trillion.
TAM represents the potential revenue available if a company captured 100% of its defined market, making assumptions around its scope especially important when assessing valuations.
Past companies including WeWork have used enormous addressable-market estimates in investor presentations. For investors, exceptionally large TAM figures can be more useful as a gauge of expectations and sentiment than as a direct valuation input.