Anthropic hits $1T pre-IPO valuation on Jupiter market

Anthropic’s implied pre-IPO valuation has crossed $1 trillion on Jupiter’s Prestocks market

Summary

• Anthropic’s implied pre-IPO valuation crossed $1 trillion on Jupiter after a 733% surge since October.
• Forge Global also priced Anthropic near $1 trillion, while Hiive valued the company at $851 billion.
• Kalshi puts Anthropic’s 2026 IPO odds at 59% as private AI market demand grows.

The pricing places the AI company among a small group of private firms valued at that level before a public listing.

The valuation has risen 733% since October 2025, according to a post from The Kobeissi Letter. Anthropic now joins OpenAI and SpaceX among private companies with implied valuations near or above $1 trillion.

Onchain and private markets show close pricing

Jupiter’s onchain pricing is close to data from private market platforms. Forge Global CEO Kelly Rodriques told Business Insider that Anthropic was valued at around $1 trillion on its platform.

Hiive, another secondary market for accredited investors, priced Anthropic shares at $849 each. That gives the company an implied market value of about $851 billion, within 18% of Jupiter’s reading.

Podcast host Aakash Gupta said the pricing gap shows how private market price discovery is changing.

“A Solana DEX and a regulated US secondary market for accredited investors are pricing the same private company within 18% of each other.”

Funding round lifts Anthropic profile

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

The company said its revenue growth has moved quickly since launch.

“It has been less than three years since Anthropic earned its first dollar in revenue. Today, our run-rate revenue is $14 billion,” the company noted

Google also plans to invest up to $40 billion in Anthropic. The plan starts with $10 billion at the same valuation, while another $30 billion depends on performance milestones.

IPO speculation grows around AI firms

Business Insider reported that Anthropic has received venture capital offers valuing the Claude developer at as much as $800 billion in recent weeks. That level is more than double its current formal valuation.

The wider private AI market remains active as investors watch potential IPO timelines. SpaceX has submitted a confidential draft IPO registration to the SEC and could list in June.

A public listing by Anthropic, OpenAI, or SpaceX could shape how investors compare large private AI and technology firms.