Anthropic is having a moment in the private markets; SpaceX could spoil the party
Why it matters: The shift in private market demand signals a potential re-evaluation of AI leader valuations, impacting billions in investor capital.
- Anthropic shares are the "hardest stock to source" at Rainmaker Securities, with "no sellers," echoing Bloomberg's report of insatiable demand.
- Buyers have indicated readiness to deploy $2 billion into Anthropic, while $600 million in OpenAI shares are struggling to find takers, according to Ken Smythe of Next Round Capital.
- Glen Anderson of Rainmaker Securities notes that Anthropic's public dispute with the Department of Defense inadvertently boosted its popularity and differentiation from OpenAI, becoming a "gift" for the company.
- Institutional investors still desire exposure to both Anthropic and OpenAI, as the "jury’s still out" on which AI model will ultimately dominate, despite Anthropic's current momentum in the secondary market.
Demand for Anthropic shares is surging in private markets, with buyers ready to deploy billions, while OpenAI shares struggle to find takers, according to Rainmaker Securities and Bloomberg. This shift is partly attributed to Anthropic's public standoff with the Department of Defense, which amplified its narrative and differentiated it from OpenAI, though some investors still seek exposure to both AI leaders.
