Dual investors in OpenAI and Anthropic are questioning OpenAI’s high valuation as its rival gains market share. A Financial Times report indicates that justifying OpenAI’s recent funding round requires a future IPO valuation exceeding $1.2 trillion. This target compares to Anthropic’s recent valuation of $380 billion.
Anthropic’s annualized revenue has surged, challenging OpenAI’s dominance in the enterprise sector. This competitive pressure forced OpenAI to shift its strategy toward corporate clients. Some backers fear this pivot leaves the company unfocused and vulnerable.
Secondary market data shows demand for Anthropic shares has surpassed OpenAI for the first time. Buyers are currently placing a premium on Anthropic over its primary competitor.