How to invest in Anthropic pre-IPO

By Jake Safane

Updated on September 16, 2024

Artificial intelligence has taken the world by storm in recent years. Among U.S. companies across sectors, 95% are currently investing in AI, with 30% planning to invest $10 million or more in the technology next year, according to EY.² And as companies invest in AI to improve their own operations, many investors are also turning to AI-related companies in both the public and private markets.

For example, in Q2 2024, AI-related startups raised $24.2 billion across 1,001 deals, according to Crunchbase, besting the previous quarter's fundraising by more than twice as much for similar companies.³

One example of an AI-related company catching investor interest is Anthropic.

Here, we'll take a closer look at how to invest in Anthropic stock, even as it remains a private company.

Overview

Anthropic: Company background

Anthropic isn't your usual AI startup. While one of its offerings is a popular generative AI assistant — Claude — Anthropic also operates at a broader level as an AI safety and research company.

Anthropic is led by siblings Dario and Daniela Amodei, who are former employees of OpenAI, the makers of ChatGPT.⁴ Anthropic has also pulled several other former OpenAI staff, such as with OpenAI co-founder John Schulman recently joining Anthropic.⁵

Anthropic stock history

Anthropic has been attracting significant investment since its founding in 2021. To date, it has raised nearly $7 billion, with a current post-money valuation of $18.4 billion and a stock price of $30.00 per share.⁶

The Anthropic Series A took place in May 2021, when the company raised $124.62 million at a post-money valuation of $623.11 million, according to Forge Data.⁷ Some of the key investors in that round included Jaan Tallinn, a founding engineer of Skype; Eric Schmidt, former CEO of Google; and Dustin Moskovitz, who co-founded Facebook and Asana.

Subsequent funding rounds have included investments from major companies and venture funds, such as Google, Amazon, Salesforce Ventures, Spark Capital, and Menlo Ventures.

In all, Amazon has invested $4 billion in Anthropic,⁸ while Google has invested $2 billion.⁹

The Details

How to buy Anthropic stock

Anthropic is not a publicly traded company, so its stock is more limited. However, it is possible for accredited investors to buy Anthropic stock while it remains a private company, either by investing in funding rounds or through a private stock marketplace like Forge.

Who can invest in Anthropic pre-IPO

In general, investment in private companies like Anthropic is limited to institutional and high-net-worth investors for primary funding rounds, as well as accredited investors who trade existing shares on secondary marketplaces like Forge.

There are different ways to qualify as an accredited investor, but a common example is having income over $200,000 ($300,000 with spouse or partner) for the past two years, along with a reasonable expectation to also meet that threshold in the current year.¹⁰

Unless Anthropic goes public such as through an IPO, however, ordinary investors typically can not invest in Anthropic stock.

Where to buy pre-IPO Anthropic stock

Accredited investors can buy pre-IPO Anthropic stock through a secondary marketplace such as Forge. On a secondary marketplace, existing shareholders such as employees and early investors can list shares for sale before the company goes public. Availability of pre-IPO Anthropic stock depends on these shareholders deciding to sell stock, so liquidity can vary.

Alternatives for investors who want to buy Anthropic stock

While non accredited investors cannot buy pre-IPO stock through a secondary marketplace like Forge, there are other ways to potentially get similar exposure.

One option is to invest in public company stocks that are also in the AI space. For example, investing in Google and Amazon could provide indirect exposure to Anthropic, by nature of their private investments in Anthropic, as well as their other AI initiatives. Another option is to invest in competitors, such as Microsoft, which has a stake in OpenAI's profits.¹¹

However, investing in public companies such as Google, Amazon, or Microsoft also means investing in the many other areas of these businesses, not just AI.

Another option is to invest in a mutual fund or exchange-traded fund that invests in multiple AI-related companies. Doing so can provide diversified exposure to this sector, albeit not a direct ownership stake in Anthropic.

Lastly, investors could wait to see if Anthropic has an IPO, but the company has not announced any plans to go public.

How to analyze Anthropic stock

For those interested in investing in Anthropic stock, it's important to still conduct proper analysis and risk management, rather than getting caught up in the AI frenzy.

One solution is to use Forge Price, a proprietary indicative price calculated daily for over 250 pre-IPO technology companies, which values Anthropic at a $18.4 billion Forge Price valuation and $30 price per share¹². Accredited investors and shareholders can also register to Forge Markets and Forge Data to compare Anthropic to other AI and tech-related private companies available on these platforms.

Yet it's also important to consider risks and restrictions around investing in Anthropic stock. For one, private companies like Anthropic generally have more limited liquidity than public companies. And without an IPO announcement on the horizon, it's unclear if more liquidity will be available soon, so you'll have to weigh that versus investing in more liquid assets, like public AI-related stocks.

Get started investing in Anthropic on Forge

If you want to invest in Anthropic pre-IPO, create an account with Forge Markets to access our deep marketplace of private market securities.

When you create a free account, you'll be connected with a Forge Private Market Specialist to determine your eligibility, and from there you can potentially buy and sell private market shares in Anthropic and other startups.

Forge stands out for its transparency into what can otherwise be an opaque private market, and as a publicly traded company itself, Forge provides a regulated, proven way to invest in the private market.

FAQs about investing in Anthropic

Where do I buy Anthropic stock?

As a private company, Anthropic stock can be bought on secondary marketplaces such as Forge, subject to availability.

Who can invest in Anthropic?

Generally, investment in Anthropic is limited to institutional and accredited investors, by nature of the company being privately owned.

Who are Anthropic’s competitors?

One of Anthropic's primary competitors is OpenAI, whose ChatGPT tool competes with Anthropic's Claude. Other AI companies like Cohere and Contextual AI could also be seen as competitors.

About the Author

Jake Safane specializes in financial reporting and is a former thought leadership editor for The Economist with articles appearing in Business Insider and The Washington Post among other media outlets. Mr. Safane has received compensation from Forge Global, Inc. for authoring this article. Read more from Jake.

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