Key TakeawaysSecondary market valuations place Anthropic at $1.2 trillion, representing a 550% surge year-over-yearInvestor appetite dramatically outweighs available shares, with current shareholders reluctant to part with equitySpecial purpose vehicles facilitate the majority of transactions, despite the company’s official disapprovalOpenAI’s secondary market standing now sits at $908 billion, trailing its competitorA confidential IPO filing was submitted to the SEC by Anthropic in early June 2026The artificial intelligence firm Anthropic, creator of the Claude AI assistant, has achieved a staggering $1.2 trillion valuation in secondary market trading. This milestone positions the company as the world’s highest-valued private artificial intelligence venture, surpassing its primary competitor OpenAI.BREAKING: Anthropic just hit $1.2 TRILLION on secondary markets. Almost nobody can actually buy inOnce public markets get to set the price, does $1.2T look cheap, or crazy? pic.twitter.com/g7sJI4aRsO— Ruben (@rdominguezibar) July 9, 2026This remarkable $1.2 trillion valuation marks a 550% climb compared to the same period last year, as reported by Javier Avalos, who serves as cofounder and chief executive of Caplight, a platform specializing in private secondary market transactions.Avalos characterized Anthropic as representing “the most sought-after company the venture secondary market has ever seen.”Limited Supply Creates Transaction BottleneckWhile investor interest remains extraordinarily high, actual completed deals remain surprisingly scarce. Glen Anderson, who heads Rainmaker Securities as CEO, verified that transactions are indeed occurring at the $1.2 trillion valuation mark, though successful closings happen infrequently.“The demand outstrips the supply in Anthropic so much that it’s rare to get a trade done because no one’s selling,” Anderson told Business Insider.Since neither Anthropic nor OpenAI trades on public exchanges, interested investors must navigate secondary markets to acquire ownership stakes. This requires finding employees or early-stage backers willing to liquidate their positions — a challenging endeavor given most stakeholders prefer to hold.Some eager investors have resorted to extraordinary measures in their pursuit of Anthropic equity, including proposals to trade residential properties in exchange for company shares.Special Purpose Vehicles Dominate Trading Activity Despite Corporate ResistanceThe transactions that do materialize predominantly utilize special purpose vehicles, commonly known as SPVs. These financial structures aggregate capital from numerous investors to execute a single unified transaction.Anthropic has taken a firm public stance against this approach. The company’s official website includes a clear warning: “Invest at your own risk: if someone offers you a way to participate, even on an indirect basis, in an investment in Anthropic, assume that it is invalid.”Avalos additionally highlighted that SPV arrangements frequently carry substantial fees that buyers must absorb.Anthropic’s most recent formal capital raise, a Series H round finalized in late May 2026, established the company’s valuation at $965 billion. Current secondary market pricing of $1.2 trillion represents a significant premium over that official figure.OpenAI, which maintained valuation superiority over Anthropic for an extended period, currently trades at $908 billion on the Caplight platform.This valuation divergence between the two AI leaders also manifests in their latest primary funding rounds. OpenAI secured an $852 billion valuation following its March 2026 financing, while Anthropic commanded $965 billion in its Series H.Investor enthusiasm for OpenAI had experienced a relative lull until recent developments. The company’s launch of its GPT-5.6 model family, featuring the premium “Sol” model alongside the cost-effective “Terra” variant, has sparked renewed purchasing interest, Anderson observed.Regarding the comparative demand between the two organizations, Avalos estimated approximately five potential Anthropic investors for every two seeking OpenAI exposure.Anthropic submitted a confidential initial public offering prospectus to the Securities and Exchange Commission in early June 2026. Company representatives have indicated that the ultimate timing for any public market debut will be determined by prevailing market conditions.The post Anthropic Soars to $1.2 Trillion Secondary Valuation, Eclipsing OpenAI appeared first on Blockonomi.