Anthropic's Secondary Shares Frenzy: Valuation Surpasses $1 Trillion, Outpacing OpenAI

Buyers eager to get Anthropic shares are scrambling for increasingly scarce secondary shares, pushing the AI company's valuation to $1 trillion on some platforms—surpassing OpenAI. Although OpenAI's last funding round valued it at $852 billion, its current secondary market trading price is lower than Anthropic's.

Since both companies are unlisted, investors mainly purchase shares sold by current/former employees and early investors via the secondary market. The buying frenzy is mostly driven by FOMO rather than fundamental support; industry capital has fully shifted to Anthropic, while OpenAI's secondary market trading remains quiet.