Recent buyers of Anthropic stock have significantly boosted the AI company’s valuation on various trading platforms to $1 trillion, surpassing OpenAI’s market cap by over $100 billion, marking a notable shift in the competitive landscape of AI.
Investors have observed increasing competition lately, with a noticeable decrease in the demand for OpenAI shares.
This valuation surge is still unfolding in the secondary market, which facilitates the trading of stocks from privately held companies, and comes as Anthropic is gearing up for a public offering that could further benefit shareholders.
The enthusiasm around Anthropic’s new Claude Mythos model seems to fuel this rising valuation. The company has indicated that its technology, aimed at identifying cyber threats, carries significant risks and should not be broadly released; some perceive this as a clever marketing tactic.
An impressive revenue increase was reported, with figures jumping from $9 billion at the close of 2025 to over $30 billion by March, which is attributed to the increasing availability of Claude services.
Despite a public dispute between CEO Dario Amodei and the Trump administration regarding security agreements—culminating in a ban on cooperating with the Pentagon—traders appear unfazed. Reports indicated Amodei met with White House officials last week to ease tensions.
On the other hand, demand for OpenAI stock has reportedly dwindled. As of late March, institutional investors attempting to unload $600 million worth of stock were struggling to find buyers, even after OpenAI secured its largest funding round to date, raising $122 billion.
According to Mike Sobel, president and co-founder of Scenic Advice, Anthropic’s valuation reflects the quality it has been delivering to enterprise clients.
“The quality of Anthropic’s earnings has improved even further,” he remarked.
Hive, a private equity market, noted that Anthropic’s stock price surged 211% over the past three months, reaching around $900, positioning it among the most traded companies on their platform.
In contrast, OpenAI’s stock only rose 8.5% during the same timeframe, landing at $608.
Evaluating private companies in between funding rounds can be tricky, but Hive’s data suggests that Anthropic is consistently valued at $1 trillion.
OpenAI’s stock price is still consistent with its last valuation of $852 billion from its most recent funding round.
Sim Desai, Hive’s CEO, mentioned that speculation about strong earnings in the first quarter is likely driving these increased valuations, observing that the recent price surge for Anthropic is ten times greater than Hive’s index of liquid pre-IPO securities.
Sobel had purchased some Anthropic shares at a $19 billion valuation back in 2024, and if Anthropic maintains its stock value around $1 trillion by the time of its IPO, he could see returns 20 times his initial investment.
No specific date has been announced for an IPO from either Anthropic or OpenAI, and attempts to reach out to both companies for comments have yielded no responses.
Sobel referred to Anthropic as a “generational company” and expressed no plans to part with his shares in the firm.
“I get inquiries daily from people wanting to purchase my Anthropic stock,” he noted.
He elaborated that billionaires have been contacting him, eager to invest millions in stock at almost any reasonable price. The demand is genuinely intense.
Unusual offers have surfaced, including one from a trader in Silicon Valley proposing to exchange his 14 acres of land for Anthropic stock. Storm Duncan, founder of a tech-focused investment bank, pointed out that reaching an agreement might be challenging due to the rapidly increasing valuations.
Meanwhile, Jesse Reimgruber, founder of San Francisco-based AI hardware startup Open Home, shared on social media that a “well-known growth fund” proposed to buy Anthropic stock valuing it at $1.5 trillion, calling the offer “absolutely wild.”
Ken Sawyer, co-founder and managing partner of Saints Capital, mentioned that a shareholder is considering letting go of a stake valued at $1.15 trillion.
“This was an outstanding performance for Anthropic,” stated Glenn Anderson, CEO of Rainmaker Securities. “There’s a strong desire to be involved in the generational potential of AI, and Anthropic is currently leading the pack.” He also shared that he had received offers to purchase $960 billion worth of Anthropic stock—an astounding figure that would have been unimaginable just a short time ago. “When I received my offer, another buyer secured it on the same day,” he explained. “There are very few sellers.”
