Investors Need $25 million for Anthropic, about $1 million for OpenAI in secondary market
Secondary-market buyers face a steep price gap: Anthropic shares require at least $25 million, while OpenAI shares can be purchased for roughly $1 million.
The secondary market for upcoming AI IPOs shows a stark contrast between Anthropic and OpenAI. Prospective buyers report that Anthropic’s shares are in such high demand that only investors willing to deploy $25 million or larger can gain access, with many transactions occurring in $20-$100 million chunks. Valuation estimates place Anthropic around $1.4 trillion, reflecting a more than 400 % increase from the previous year.
OpenAI, however, is seen as more affordable, with investors able to enter with as little as $500,000 to $1 million. Market participants suggest OpenAI may be underpriced relative to Anthropic, which they view as overvalued. The disparity highlights how tightly held AI equity is becoming and signals differing investor sentiment toward the two firms.
Why it matters
It shows how scarce AI IPO shares have become and why valuation gaps matter to investors.
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