Anthropic's secondary market requires at least $25 million, far above OpenAI's $1 million entry point

In the private secondary market, demand for Anthropic shares is far outstripping supply, with valuations around $1.4 trillion. Investors typically need to deploy at least $25 million, and often $50 million or more, to gain access. In contrast, OpenAI shares can be acquired with as little as $500,000 to $1 million, according to market sources.

The entry barrier disparity highlights how sharply private market sentiment has shifted between the two AI leaders. Caplight data places Anthropic's valuation near $1.4 trillion, a fourfold increase within a year, while buyer interest has reached roughly $1.5 billion since early Q2 2026. Brokerages report demand exceeding available supply by three to five times, leaving even investors offering $10 million or $100 million struggling to secure allocations.

Anthropic has deliberately restricted cap-table access, selling positions in blocks ranging from $20 million to $100 million through warehoused holdings. OpenAI, by contrast, remains far more accessible, with some market participants viewing its comparatively modest pricing as an attractive entry point. This stratification suggests AI investment opportunities are increasingly reserved for institutional players with substantial capital.