Anthropic’s on-chain pre-IPO market value jumps to $1.2 trillion, overtakes OpenAI for the first time

Anthropic has reached an implied pre-IPO valuation of approximately $1.2 trillion based on its tokenized shares trading on blockchain platforms, overtaking OpenAI for the first time. This valuation surge, which represents about a 20% increase in just one week, reflects strong investor confidence in the private AI startup as decentralized markets increasingly set valuations ahead of traditional IPOs. The trading primarily occurs on decentralized exchanges such as Jupiter, where pre-IPO shares of Anthropic are bought and sold, providing transparent market-driven price discovery for private companies.

This milestone positions Anthropic among an elite group of private firms with valuations exceeding $1 trillion, alongside OpenAI and SpaceX. The valuation is also consistent with figures from private marketplace platforms like Forge Global. Notably, Google is reportedly planning a substantial investment in Anthropic—up to $40 billion—with an initial $10 billion infusion at this valuation level, with the rest contingent on performance milestones.

Anthropic’s valuation leap underscores the broader trend of decentralized finance mechanisms disrupting traditional private equity markets, offering liquidity and real-time price benchmarks for pre-IPO companies. It also highlights the intense market competition in AI, where investor appetite for leading-edge AI firms is driving valuations to unprecedented heights well before any public offering. This signals growing market optimism about Anthropic’s potential impact and scale within the rapidly evolving AI landscape.