{"id":833886,"date":"2026-05-31T05:20:17","date_gmt":"2026-05-31T05:20:17","guid":{"rendered":"https:\/\/www.europesays.com\/us\/833886\/"},"modified":"2026-05-31T05:20:17","modified_gmt":"2026-05-31T05:20:17","slug":"anthropic-is-now-worth-more-than-openai","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/833886\/","title":{"rendered":"Anthropic Is Now Worth More Than OpenAI"},"content":{"rendered":"

In a blog post on Thursday<\/a>, Anthropic wrote that it \u201chas raised $65 billion in Series H funding led by Altimeter Capital, Dragoneer, Greenoaks, and Sequoia Capital, valuing the company at $965 billion post-money.\u201d The most recent blog post along similar lines from OpenAI<\/a> places its valuation at $852 billion.<\/p>\n

That means the top of the leaderboard has flipped. Among AI-first tech companies, Anthropic, \u201cthe Claude one,\u201d is now technically more valuable than OpenAI, \u201cthe ChatGPT one.\u201d<\/p>\n

There are, however, some mitigating factors to keep in mind about these valuations. First of all,\u00a0 as critics like Ed Zitron avidly and constantly point out<\/a> (as well as more staid, mainstream critics like HSBC<\/a>), AI as a core business is\u2014to say the leas\u2014unproven as a strategy for long-term profitability. Anthropic claims to have just turned an operating profit for one quarter, as the Wall Street Journal reported<\/a>, but that story also notes that \u201cit is unclear what accounting methods Anthropic has used to book revenue and costs,\u201d and that, \u201cThe company might not remain profitable for the full year as it plans spending increases due to its vast computing needs.\u201c<\/p>\n

So it would be a stretch to call Anthropic a profitable company. Those aforementioned \u201cvast computing needs\u201d are no secret. It has committed hundreds of billions of dollars<\/a> to companies like Amazon, Google, and Broadcom over the next decade, and it\u2019s made a short term commitment of $1.5 billion per month<\/a> to SpaceX.<\/p>\n

Investors are no doubt aware of all that spending, but they also know Anthropic\u2019s revenue exploded around the start of the 2026 calendar year<\/a> because of an influx of enterprise clients. Vibe coding is the apparent norm now, creating a narrative in which companies supposedly no longer need young coders<\/a> to do menial work thanks to Claude Code\u2014along with competitor products like OpenAI\u2019s Codex. Announcements of small changes to Anthropic\u2019s Claude Code product<\/a> have started to have huge impacts on the stock market, particularly the valuations of software-as-a-service (SaaS) companies<\/a>.<\/p>\n

Rather than leading lately, OpenAI is seen to be playing catch-up<\/a>.<\/p>\n

However, another thing to keep in mind about Anthropic being the new valuation champion is that OpenAI\u2019s most recent valuation was calculated based on a funding round from two months before Anthropic\u2019s. So this is a little like when a sports team overtakes a rival in league rankings having played one more game than the other. There\u2019s more ball still to come.<\/p>\n

Since OpenAI and Anthropic are\u2014for now\u2014both privately held companies, price discovery is scattered and a bit sketchy, especially since the companies still don\u2019t have to report their earnings and expenditures publicly. For what it\u2019s worth, Anthropic\u2019s valuation on Forge Global, a secondary market for private shares<\/a> overtook OpenAI\u2019s last month, with Anthropic\u2019s estimated value at around $1 trillion, and OpenAI\u2019s at $880 billion.<\/p>\n

Want an even sketchier estimate? Polymarket places the odds of Anthropic having a higher valuation than OpenAI<\/a> at the end of June at 89% as of this writing.<\/p>\n

Some degree of clarity is probably on its way. A May 20 New York Times article<\/a> citing \u201ctwo people with knowledge of the matter\u201c said OpenAI was expected to file for an IPO \u201cin the coming weeks.\u201d In fact, it may have filed confidentially on May 22<\/a>. Meanwhile, Forbes says<\/a> Anthropic\u2019s IPO could come \u201cas soon as October.\u201d<\/p>\n

So perhaps in fall there\u2019ll be a clearer winner in this contest. By then, the pricing of shares in OpenAI and Anthropic will be publicly available in real time. If people dispute that one publicly traded AI company is \u201cworth more\u201d than the other, they can, and probably will, fire up an app like Robinhood and vote with their life savings<\/a>. And then, well, God help them.<\/p>\n","protected":false},"excerpt":{"rendered":"In a blog post on Thursday, Anthropic wrote that it \u201chas raised $65 billion in Series H funding…\n","protected":false},"author":3,"featured_media":833887,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[6],"tags":[24142,64,305,67,132,68,35882],"class_list":["post-833886","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-anthropic","tag-business","tag-openai","tag-united-states","tag-unitedstates","tag-us","tag-valuation"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/116667510443281914","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/833886","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=833886"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/833886\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/833887"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=833886"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=833886"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=833886"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}