Claude AI Business Accelerates, Here's Why

The artificial intelligence (AI) company behind Claude, Anthropic, is reported to have overtaken 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 emerged from trading activity on one of the largest private stock market platforms, Forge Global, where investors are “scrambling for tickets” to enter the AI company despite it not yet being listed on the stock exchange. Forge Global’s CEO, Kelly Rodriques, confirmed that Anthropic’s valuation on the platform is now around $1 trillion. Meanwhile, OpenAI is traded at around $880 billion, or equivalent to Rp14,886 trillion, on the same platform. It should be noted that this $1 trillion figure for Anthropic is not an official valuation like in funding rounds. Anthropic’s last formal valuation was reported at around $380 billion, or approximately Rp6,428 trillion. This $1 trillion figure may not necessarily reflect the true value if the company actually lists on the stock exchange. Several reports suggest that Anthropic’s valuation 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 reflects the current euphoria and high investor demand for the AI sector, rather than a certain real value. These figures are usually determined when companies seek funding from investors and reflect how much the company is valued based on its business, technology, and growth potential. The reason Anthropic’s value can be estimated at Rp16,900 trillion is due to the secondary market mechanism. The secondary market is a place for buying and selling shares already owned by previous investors. Unlike the regular stock market, transactions here do not occur on public exchanges but rather between old 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 condition causes the company’s share price to surge sharply when demand is high. In other words, the valuation in the secondary market more reflects “how much people are willing to pay,” rather than the overall fundamental value of the company. This phenomenon is currently occurring with Anthropic, which is estimated at $1 trillion. There are even claims that a large growth fund is ready to buy shares at a valuation of $1.05 trillion, or approximately Rp17,762 trillion. In a LinkedIn post, an investor is said to have offered a 14-hectare property in exchange for Anthropic shares, at a valuation of more than $800 billion, or approximately Rp13,532 trillion, far above the company’s official valuation.