Anthropic's Business Shines Brighter, Surpassing OpenAI

Anthropic, the artificial intelligence (AI) company behind Claude, is reported to have surpassed OpenAI in terms of valuation on the secondary market. Its value is even said to have exceeded $1 trillion, or approximately Rp16,900 trillion.

This figure emerges from trading activity on Forge Global, one of the largest platforms for private stock trading. Here, investors are “competing for tickets” to enter the AI company, even though it has not yet listed on the stock exchange.

Forge Global’s CEO, Kelly Rodriques, confirmed that Anthropic’s valuation on the platform now stands at around $1 trillion.

Meanwhile, OpenAI is traded at around $880 billion, or the equivalent of Rp14,886 trillion, on the same platform.

However, this $1 trillion valuation does not necessarily reflect the actual value if the company truly lists on the stock exchange.

Several reports suggest that the valuation of the AI company founded by Dario Amodei and Daniela Amodei at IPO could be in the range of $400 billion to $500 billion, or approximately Rp6,766 trillion to Rp8,458 trillion.

In other words, the trillion-dollar figure in the secondary market more accurately reflects the current euphoria and high investor demand for the AI sector, rather than a guaranteed real value.

So why has the valuation of Claude AI’s creator skyrocketed to such an extent in the secondary market?

Valuation is a term for the estimated value of a company. This figure is usually determined when a company seeks funding from investors and reflects how much the company is valued based on its business, technology, and growth potential.

The reason Anthropic’s value is estimated at Rp16,900 trillion is due to the secondary market mechanism.

The secondary market is a venue for buying and selling shares already owned by previous investors. Unlike the regular stock market, transactions here do not occur on a public exchange but rather between existing shareholders and new investors in a limited manner.

As a result, the number of available shares is very limited, and not all shareholders want to sell. This causes the company’s share price to surge sharply when demand is high.

In other words, the valuation in the secondary market more accurately reflects “how much people are willing to pay,” rather than the overall fundamental value of the company.