Anthropic Valuation Surges to $1 Trillion, Outpacing OpenAI
Recent reports indicate that Anthropic has reached an impressive valuation of around $1 trillion in secondary markets, making it the most valuable private AI company, surpassing OpenAI’s valuation of $880 billion. This shift has been highlighted by Business Insider, especially on Forge Global, a key private share marketplace.
The remarkable growth in Anthropic’s revenue is a major driving force behind this leap in valuation. Between the end of 2025 and March 2026, the company saw its annualized revenue spike from $9 billion to $30 billion, marking a staggering 233% increase in just one quarter. Much of this growth is attributed to the rising demand for its coding tools, as pointed out by Bloomberg.
Investors are keen to buy shares of Anthropic, but supply is limited. Employees and early backers haven’t had many opportunities to sell their stakes, leading to intense competition among buyers. This demand has driven share prices up, with some shareholders even valuing their shares at $1.15 trillion, although the average price sits at $1 trillion.
While secondary market valuations are important, they don’t provide a complete picture. This is reminiscent of 2021 when many private companies saw their valuations drop significantly—by 60-70% from 2022 to 2024. The real test of Anthropic’s valuation will come when the company files its S-1.
Looking ahead, rumors suggest that Anthropic might target an initial public offering (IPO) of between $400 billion and $500 billion, with guidance from Goldman Sachs and JPMorgan, potentially set for October 2026. If these estimates hold true, the market is expecting a valuation that significantly exceeds the predictions of its bankers when it goes public.
