Anthropic Reaches $1 Trillion Valuation, Surpassing OpenAI in Secondary Markets

Gate News message, April 28 — Anthropic has surpassed OpenAI in private market valuation, with its implied worth crossing $1 trillion in recent secondary trades. OpenAI’s valuation has settled around $880 billion in similar markets. The shift marks a dramatic momentum change in the AI sector, where OpenAI had long held the top position. Anthropic’s surge comes despite its $380 billion funding round just three months earlier, reflecting strong investor demand for limited shares on platforms such as Forge Global and Jupiter.

Anthromic’s rapid rise is driven by accelerating revenue and enterprise focus. The company’s annualized revenue climbed from approximately $9 billion in late 2025 to nearly $39 billion by March 2026. Its Claude models, particularly tools like Claude Code, have gained significant traction among developers and businesses targeting enterprise clients. Anthropic has also secured backing and distribution through major tech ecosystems, including partnerships with Amazon and Palantir. Investors view the company as capital-efficient, reportedly spending significantly less on computing infrastructure compared to competitors while generating strong revenue growth.

OpenAI faces mounting pressure despite its scale. Reports indicate the company has missed internal revenue expectations, and leadership has signaled the organization may not yet be ready for a public listing. OpenAI continues to commit heavily to future computing capacity, raising questions about near-term profitability. The competition now reflects two distinct strategies: Anthropic focuses on enterprise clients with compliance-heavy needs and structured pricing, while OpenAI prioritizes consumer engagement and broad accessibility. Both approaches carry opportunities and risks as the broader AI market expands.