Anthropic Hits $1T Valuation Onchain Pre IPO

Anthropic has reached a $1 trillion implied valuation on Jupiter’s onchain market. The pricing places the artificial intelligence firm among a small group of private companies nearing trillion-dollar status before listing.

The valuation reflects a 733% increase since October 2025, according to The Kobeissi Letter. Jupiter’s pricing aligns closely with secondary market data, where Forge Global estimates a similar valuation and Hiive implies roughly $851 billion based on share pricing.

Are Onchain Markets Redefining Private Price Discovery?

The gap between onchain and traditional secondary markets stands at about 18%, based on available data. That convergence suggests blockchain-based venues are beginning to mirror institutional pricing mechanisms typically reserved for accredited investor platforms.

Anthropic’s rise follows a $30 billion Series G round completed in February at a $380 billion post-money valuation. The round, led by GIC and Coatue, significantly elevated the company’s profile as revenue scaled to a $14 billion annual run rate within three years of launch.

Anthropic raises $30 billion in Series G funding at $380 billion post-money valuation

Anthropic is an AI safety and research company that’s working to build reliable, interpretable, and steerable AI systems.

“A Solana DEX and a regulated US secondary market for accredited investors are pricing the same private company within 18% of each other,” said Aakash Gupta, commenting on the narrowing spread between markets.

Still, private market momentum across artificial intelligence firms remains intense. Business Insider reported recent venture offers valuing Anthropic as high as $800 billion, while Google has outlined a potential $40 billion investment tied to performance milestones.

The next catalyst will depend on whether Anthropic advances toward a public listing, particularly as firms like SpaceX prepare potential IPO filings that could reset valuation benchmarks across private and onchain markets.