Anthropic’s Pre-IPO Valuation Hits $1 Trillion on Jupiter

Anthropic’s implied pre-IPO valuation crossed $1 trillion on Jupiter’s Prestocks market, making the bogus intelligence (AI) firm the third personal agency to achieve that mark.

The onchain pricing aligns with Forge Global, a non-public market change, which additionally locations the valuation at that stage.

Onchain and Secondary Markets Converge on Anthropic’s Valuation

According to a post from The Kobeissi Letter, Anthropic’s implied valuation has jumped 733% since October 2025. The AI agency joins OpenAI and SpaceX within the pre-IPO trillion-dollar membership, a gaggle whose mixed implied market cap now stands at $3.7 trillion.

Forge Global, a number one personal market change, confirmed similar demand. CEO Kelly Rodriques told Business Insider that Anthropic’s valuation on the platform was round $1 trillion. By comparability, Forge pegged OpenAI at roughly $880 billion.

Hiive, one other accredited secondary venue, priced Anthropic shares at $849 per share, implying an $851 billion market cap. That determine sits inside 18% of Jupiter’s onchain studying.

“A Solana DEX and a regulated US secondary marketplace for accredited traders are pricing the identical personal firm inside 18% of one another. Pre-IPO discovery was once a quarterly tender pegged to a 409A. It is now a real-time guide,” Podcast host Aakash Gupta said.

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Anthropic closed its Series G spherical in February, valuing the agency at a $380 billion post-money. It raised $30 billion within the spherical led by GIC and Coatue. 

“It has been lower than three years since Anthropic earned its first greenback in income. Today, our run-rate income is $14 billion, with this determine rising over 10x yearly in every of these previous three years,” the staff said.

Google additionally plans to speculate as much as $40 billion within the AI agency, beginning with $10 billion at the same valuation, with the remaining $30 billion tied to efficiency milestones.

“Anthropic has fielded a number of affords from VCs valuing the startup behind Claude at as a lot as $800 billion in current weeks, greater than double its present valuation, in accordance with a number of individuals accustomed to the matter,” Business Insider reported.

Meanwhile, the itemizing race is heating up. In early April, SpaceX submitted a confidential draft Initial Public Offering (IPO) registration to the SEC, on monitor for a June itemizing.

Prediction market Kalshi puts the odds of an Anthropic IPO this 12 months at 59%. Whichever agency lists first will set the comparability for the others.

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