Anthropic’s implied valuation on Forge Global, a private share marketplace, has climbed to roughly $1 trillion, surpassing OpenAI which trades at $880B on the same platform, despite Anthropic’s own most recent primary funding round valuing it at $380B just three months ago. The gap between primary and secondary valuations reflects an acute scarcity of available shares, with investors competing aggressively for any stock that comes to market, one buyer reportedly offering $960B before losing the deal to another buyer, and at least one shareholder offering to sell at $1.15 trillion. Anthropic’s annualized revenue run rate has surged from $9B late last year to $30B by March 2026, a jump analysts have tied largely to breakout adoption of Claude Code among developers.
