Anthropic hits $1 trillion valuation on secondary markets, surpassing OpenAI
What's the story
Anthropic, a leading artificial intelligence (AI) company, has seen its valuation skyrocket to an astonishing $1 trillion on secondary markets. This unprecedented surge comes as investors scramble to get their hands on the company's limited supply of secondary shares. The development is a major milestone in the tech industry and highlights the growing interest in AI companies.
Market comparison
Surge in Anthropic's valuation
Despite OpenAI being valued at $852 billion, more than double Anthropic's valuation in their most recent funding rounds, traders are witnessing a decline in demand for the former. On Forge Global, a leading private marketplace exchange, Anthropic's valuation is pegged at around $1 trillion. In contrast, OpenAI's valuation on the platform stands at $880 billion.
Share market
Insights into secondary market activity
As both Anthropic and OpenAI are private companies, most investors have to buy their shares on secondary markets. These platforms facilitate the sale of existing stock by current/former employees or early investors. Ken Sawyer, co-founder and managing partner at Saints Capital, a venture secondary firm, revealed that an Anthropic shareholder recently tried to sell shares at a whopping $1.15 trillion valuation.
Growth trajectory
Rapid revenue growth driving investor interest
Just three months ago, Anthropic was valued at $380 billion after a funding round led by GIC and Coatue. Since then, the company has witnessed an unprecedented demand for its shares in Silicon Valley. Investors have been impressed by Anthropic's rapid revenue growth and success with its AI-powered coding assistant, Claude code. "It's been an epic run for Anthropic," said Glen Anderson, CEO of Rainmaker Securities.
Market frenzy
Increased demand and limited supply for Anthropic shares
Anderson recently received an offer to buy shares in Anthropic at a $960 billion valuation. He said such prices were unimaginable until recently. "We get an offer, and then within a day someone else has already bought it," he said. "There are almost no sellers." Bradley Horowitz, general partner at Wisdom Ventures, which invested early in both companies, echoed this sentiment saying they get daily offers for their Anthropic shares but aren't interested as they're playing a long game.