Zoom Video Communications (ZM) shares climbed more than 11% on Monday. The rally followed news that AI startup Anthropic has confidentially filed for an initial public offering.
Zoom’s venture arm began investing in the generative AI firm in 2023. This strategic stake is now valued at more than $1 billion.
The planned IPO represents a substantial unrealized gain for the communications company. The move draws investor attention to Zoom’s investment portfolio beyond its core software operations.