Silicon Valley Trader Swaps Land for AI Stock
A trader in Silicon Valley is offering up his 14 acres of land in exchange for stock in Anthropic, an artificial intelligence firm, highlighting the extreme measures investors are willing to take to enter the booming AI market.
Storm Duncan, the founder of a technology-focused investment bank called Ignatius, shared details about this unique arrangement in an exclusive interview. He will be covering all closing costs for the current stockholders of Anthropic who decide to accept his offer.
Duncan’s real estate advisor has valued his property—a 4,400-square-foot mansion with four bedrooms—at about $8 million. Located in Mill Valley, just north of the Golden Gate Bridge, it boasts beautiful grounds and an infinity pool providing impressive views of San Francisco Bay and Mount Tamalpais.
“There was definitely some interest,” Duncan mentioned, but added that “it’s not a typical deal.”
At 56 years old, Duncan’s listing generated buzz within the tech community. Recently posted on LinkedIn, even well-connected individuals in technology seem eager to purchase stakes in privately held AI startups before they go public.
Users on social media have noted Duncan’s proposal as evidence that the AI market is heating up. One user remarked, “It has a late-peak atmosphere. Please frame it and display it on your wall.”
Duncan, who already holds shares in Anthropic from a previous funding round in 2024, shared that he’s gotten to know the management team and is optimistic about their long-term success in the AI field. “It’s going to be a discussion,” he said, while clarifying that he does not see his offer as a sign of the market peaking.
Anthropic, based in San Francisco, has recently received offers from venture capitalists that could value the company at over $800 billion. According to a Bloomberg report this month, Duncan’s own analysis supports that valuation.
Purchasing shares directly from individuals, he noted, is more straightforward than going through the secondary market, where verifying the authenticity of shares from unlisted startups can be tricky and risky.
Duncan also highlighted potential tax benefits associated with this type of exchange. He mentioned that the transaction would need to align with Anthropic’s current valuation and that the seller could retain 20% of the upside in the share value before the stocks are legally transferred to him.
Duncan has previously invested in a variety of AI startups, including Gecko Robotics, which is valued at $1.25 billion, and Upscale AI, which raised $200 million in Series A funding earlier this year.
His Mill Valley residence has a history as a party venue, hosting events for up to 700 guests before the pandemic. “If the house had exploded during the party, it would have been a huge problem for the tech industry,” Duncan recalled, sharing how he aimed to unite diverse groups through these gatherings.
Currently, Duncan splits his time between homes in Miami and Wyoming, noting that a “very well-known” venture capitalist is residing in his Mill Valley mansion, though he chose not to disclose their identity.
