Anthropic has reached a $1 trillion valuation on private secondary markets, outpacing bigger rival OpenAI. The data comes from Forge Global, a platform where shares of private companies are traded. The milestone vaults the AI startup into a valuation tier few companies have ever reached.
The figure underscores how investor appetite for frontier AI companies remains feverish, even as public tech stocks waver. Secondary markets like Forge allow early employees and investors to cash out before an IPO. They often serve as a bellwether for where private companies might trade in a public offering.
On Forge Global, Anthropic is now valued at roughly $1 trillion. By contrast, OpenAI is trading at about $880 billion on the same exchange. The gap suggests investors are betting heavily on Anthropic’s strategy of safety-focused AI development over OpenAI's broader commercial push.
If realized, the valuation would make Anthropic one of the most valuable private companies in the world. The firm, founded by former OpenAI employees, has consistently emphasized responsible AI deployment. Whether it can maintain that premium as competition intensifies remains an open question.
Critics argue secondary market valuations can be volatile and may not reflect true worth. Liquidity is thin on platforms like Forge Global, meaning a single large trade can skew the numbers significantly.