The pre-IPO valuation for AI firm Anthropic has hit a record $1 trillion, becoming the third company to exceed $1 trillion in implied valuation. The milestone is based on pre-IPO instruments changing hands on decentralized trading platform Jupiter that are backed by special-purpose-vehicle exposure to Anthropic (ANTHRO), giving investors a live proxy for where the company might price in public markets.
Prediction marketplace Kalshi shows 68% odds of an Anthropic IPO by January 1, 2027.
The implied valuation has surged 733% since October 2025, with the AI sector booming in popularity and in investments. Recently, Google parent Alphabet (GOOGL) announced plans to invest $10 billion more in Anthropic and possibly up to $40 billion more as the battle to win business from artificial intelligence leaders heats up among cloud computing giants. Amazon also recently announced a $25 billion investment in Anthropic that included commitments from the AI startup to spend $100 billion on cloud computing services over a decade.
Amazon and Anthropic have worked together since 2023, launching Project Rainier and expanding Claude as a top AI tool. This week, the latter announced it is committing more than $100 billion over the next ten years to Amazon’s AWS technologies, securing up to 5GW of new capacity to train and run Claude. “Our custom AI silicon offers high performance at significantly lower cost for customers, which is why it’s in such hot demand,” said Andy Jassy, CEO of Amazon. “Anthropic’s commitment to run its large language models on AWS Trainium for the next decade reflects the progress we’ve made together on custom silicon, as we continue delivering the technology and infrastructure our customers need to build with generative AI.”
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Of course, the figure does not represent Anthropic’s official valuation. The Claude maker was said to have received several offers from investors for a new round of funding that could value the AI startup at about $800B or higher, more than double the $350B pre-money valuation Anthropic attached to its $30B fundraising in February.
