Anthropic, the artificial intelligence startup, has reached a staggering $1 trillion pre-IPO valuation—marking the third company ever to cross this threshold. The milestone derives from trading activity on Jupiter, a decentralized platform where pre-IPO instruments tied to Anthropic (ANTHRO) are exchanging hands, offering investors a glimpse into potential public market pricing.

Kalshi, a prediction marketplace, assigns a 68% probability of an Anthropic IPO by January 2027. The firm’s implied valuation has skyrocketed 733% since October 2025, reflecting the AI sector’s explosive growth. Tech giants are doubling down: Alphabet plans to invest up to $40 billion in Anthropic, while Amazon has committed $25 billion alongside a $100 billion cloud services pledge from the AI firm.

Anthropic’s collaboration with Amazon since 2023 has yielded projects like Rainier and the expansion of Claude, its flagship AI tool. The company now pledges over $100 billion to Amazon Web Services over the next decade, securing 5GW of capacity to train and run Claude. “Our custom AI silicon delivers superior performance at lower costs,” Amazon noted, underscoring the strategic stakes in the AI arms race.