Anthropic’s Pre-IPO Valuation Hits $1 Trillion on Jupiter

Anthropic’s implied pre-IPO valuation crossed $1 trillion on Jupiter’s Prestocks market, making the artificial intelligence (AI) company the third private firm to reach that mark.

The onchain pricing aligns with Forge Global, a private marketplace exchange, which also places the valuation at that level.

Onchain and Secondary Markets Converge on Anthropic’s Valuation

According to a post from The Kobeissi Letter, Anthropic’s implied valuation has jumped 733% since October 2025. The AI firm joins OpenAI and SpaceX in the pre-IPO trillion-dollar club, a group whose combined implied market cap now stands at $3.7 trillion.

Forge Global, a leading private marketplace exchange, confirmed similar demand. CEO Kelly Rodriques told Business Insider that Anthropic’s valuation on the platform was around $1 trillion. By comparison, Forge pegged OpenAI at roughly $880 billion.

Hiive, another accredited secondary venue, priced Anthropic shares at $849 per share, implying an $851 billion market cap. That figure sits within 18% of Jupiter’s onchain reading.

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Anthropic closed its Series G round in February, valuing the firm at a $380 billion post-money. It raised $30 billion in the round led by GIC and Coatue. 

Google also plans to invest up to $40 billion in the AI firm, starting with $10 billion at the same valuation, with the remaining $30 billion tied to performance milestones.

Meanwhile, the listing race is heating up. In early April, SpaceX submitted a confidential draft Initial Public Offering (IPO) registration to the SEC, on track for a June listing.

Prediction market Kalshi puts the odds of an Anthropic IPO this year at 59%. Whichever firm lists first will set the comparison for the others.

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Source: https://beincrypto.com/anthropic-pre-ipo-valuation-1trillion-jupiter/