With jaw-dropping $1 trillion valuation, Anthropic overtakes OpenAI in market cap race
Buyers scooping up coveted Anthropic shares have vaulted the AI giant’s valuation on some trading platforms to $1 trillion – eclipsing OpenAI’s market capitalization by over $100 billion in a sea change in the AI race. The investor scramble has ratcheted up in recent weeks, tech financiers told The Post – at the same time demand for OpenAI shares is sagging. The valuation run-up is playing out on so-called secondary markets, where shares of still-private companies are traded, and comes ahead of expected initial public offerings from the artificial intelligence giants that would shower shareholders with returns. Hype around Anthropic’s latest model, Claude Mythos, may have contributed to the spike in valuation.The company itself has warned that the tech, designed to unearth cyber threats, is too dangerous to be released widely — a stance some view as a canny publicity move.Anthropic has also seen huge revenue growth, from $9 billion at the end of 2025 to over $30 billion by the end of March.
The company credited widespread adoption of its commercially available Claude services for the surge.CEO Dario Amodei’s public feud about safety protocols with the Trump administration — which recently blacklisted the company from working with the Pentagon — appears to have had little effect on traders.The exec reportedly met with White House officials last week, part of efforts to lower tensions.Meanwhile, demand for OpenAI shares is reportedly flagging.
Institutional investors seeking to sell $600 million of the company’s shares couldn’t find buyers as of the end of March, according to Bloomberg News.That’s even as OpenAI wrapped up its biggest-ever fundraising round from other tech companies — drawing $122 billion.Anthropic overtaking OpenAI’s valuation “says more about the quality of what Anthropic has delivered to its enterprise clients than anything else,” Mike Sobel, president and co-founder of secondary trading firm Scenic Advisement,...