Investor Caution as Anthropic Gains Market Share Amid OpenAI Valuation Concerns

Wed, 15 Apr 2026 08:20:00 +0200

OpenAI’s current valuation of $852 billion is raising questions among some of its investors as the company adjusts its strategy toward enterprise clients while facing increased competition from Anthropic. The latter has seen remarkable growth, with annualized revenue soaring from $9 billion at the end of 2025 to $30 billion by March 2026, fueled largely by strong demand for its coding tools. Investors familiar with both companies suggest that justifying OpenAI’s latest funding round would require a potential IPO valuation of over $1.2 trillion, making Anthropic’s current $380 billion valuation appear more attractive. In secondary markets, demand for Anthropic shares is high, whereas OpenAI shares are trading at a discount, reflecting cautious sentiment. OpenAI CFO Sarah Friar emphasized that the company’s historic $122 billion private raise signals continued confidence from investors, though skeptics remain. Industry observers, like Jai Das from Sapphire Ventures, compare OpenAI to Net