---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/40660163.md"
description: "It's actually quite reasonable.If Anthropic is valued at $1T, with year-end ARR/run-rate reaching $100B, that's only about a 10x price-to-sales ratio (not expensive for a company that's still early-stage and growing rapidly).If the profit margin can reach 40%, the corresponding PE would be about 25x (large tech companies have long maintained PEs above 30x), which is very cheap.To get to the point: if it goes public with a $1 trillion market cap, I think it's worth buying.Current stage: Fierce competition means prices can't be raised temporarily, and profits can't increase. Programming is the only area where AI has deeply penetrated.Future stage: Once the competitive landscape settles, companies will start focusing on profitability, with deep penetration across various sectors and unlimited potential.A 10% expansion in profit margin, from 40% to 50% (software companies have long-term profit margins of 70%+), translates to a 25% growth in the company's profitability. Over 4 years, that's 100% profit growth, easily achieving the exaggerated gains of a Davis Double.Nowadays, what company doesn't pay for large models? And this payment is just beginning. In the future, there will definitely be a large model company with a market cap exceeding $10 trillion."
datetime: "2026-05-12T02:56:59.000Z"
locales:
  - [en](https://longbridge.com/en/topics/40660163.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/40660163.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/40660163.md)
author: "[鸿运777](https://longbridge.com/en/profiles/13852997.md)"
---

# It's actually quite reasonable.If Anthropic is val…