Anthropic

AI safety lab and maker of Claude.

AIUnited States·Founded 2021·RSU equity·anthropic.com ↗

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Source-audited Jun 12, 2026

Current estimate

4 methods · Source-audited Jun 12, 2026High confidence (66%)

$1,080.8B

range $918.7B – $1,242.9B

Implied per-share: $1,137.7 · vs last primary +12%

This estimate reflects what informed investors are paying on secondary markets like Hiive and Forge — not the 409A valuation on your grant letter.

Valuation basis:Last primary round+ secondary signal · Hiive · 2026-06Source-audited Jun 12, 2026

Last primary round

$965B

Series H · 1mo ago

Secondary signal

$995.0B

Hiive · 2026-06+3%

Sourced from Forge/Hiive public data. Full order books require a paid subscription; figures shown are best-effort from public disclosures.

Headcount

2,800

employees · LinkedIn+87%

LinkedIn count — directional proxy only. Historical figure sourced via Wayback Machine; treat ±15% as normal variance.

Revenue (est.)

$30.0B

annual run rate · est.

ℹ

Last closed round: $380B (Feb 2026) · Latest reported fundraising terms: ~$900B, not yet closed (as of May 2026).

Complete company data

Every input we use, where we got it from, and how much we trust it.

✓

Source verification: Bloomberg May 2026 · Hiive Jun 2026 · Anthropic funding press release · manual-source-audit-2026-06

Field	Value	Source & Verification	Confidence
Company fundamentals
Sector	AI	Editorial classification	high
Headquarters	United States	Company website · Crunchbase	high
Founded	2021	Company website · Wikipedia	high
Website	anthropic.com	Direct	high
Last primary round
Post-money valuation	$965B	Anthropic.com / TechCrunch May 2026 ↗[source-audited Jun 2026]	high
Round name	Series H	Anthropic.com / TechCrunch May 2026 ↗	high
Date	2026-05-28 (1 months ago)	Anthropic.com / TechCrunch May 2026	high
Lead investor	Altimeter Capital / Dragoneer / Greenoaks / Sequoia Capital	Anthropic.com / TechCrunch May 2026	high
Amount raised	$65.0B	Anthropic.com / TechCrunch May 2026 ↗	medium
Capitalization
Total fully-diluted shares	950M	Derived/estimated — SEC Form D filings, secondary price math, cap-table summaries[estimated — not authoritative] › notes Public total fully-diluted share count: estimated from SEC Form D filings, secondary-market pricing math (implied valuation ÷ price per share), and leaked cap-table summaries. Considered the lowest-confidence input.	low
Implied share price (4-method estimate)	$1,138	$1,080.8B anchor × 1000 ÷ 950M shares[derived]	medium
Primary equity type granted	RSU	Public reports of company equity practices	high
Financials
Annual revenue (est.)	$30,000M	Estimated — best available public estimates (Sacra, The Information, company ARR disclosures, press reports)[estimated — not independently verified] › notes Annual revenue: best public estimates from Sacra, The Information, WSJ leaks, or company-stated ARR. Where official, we cite the source on the funding round.	medium
EV / Revenue (implied)	32.2x	Computed from valuation ÷ revenue[derived]	medium
Headcount
Employees (now)	2,800	LinkedIn — current company page count › notes Headcount: LinkedIn 'Company' page employee count, taken now and approximately 12 months ago via the Wayback Machine. Treat as a directional proxy for revenue growth, not a hard number.	medium
Employees (12 months ago)	1,500	LinkedIn company page — historical snapshot via Wayback Machine[estimated — ±15% directional proxy]	medium
12-month headcount growth	+87%	Computed[derived]	medium
Methodology inputs
Sector ETF proxy	BOTZ	Editorial choice — most representative public ETF › notes Sector ETF: editorial choice of the most representative public-market proxy. Annual return: 3-year trailing average from Yahoo Finance, refreshed quarterly.	medium
ETF annual return (trailing 3-yr)	32%	Yahoo Finance · refreshed quarterly	medium

Funding history

Primary rounds reported in Bloomberg, WSJ, TechCrunch, Reuters, or SEC Form D filings (efts.sec.gov). Linked per round below.

Valuation progression (equity rounds)

Valuation progression · equity rounds

$965Blatest · Series H

Total growth

210×

Our estimate

$1.1T

Primary round

Down round

Our estimate

Series H+154%2026-05-28

$965.0B

Led by Altimeter Capital / Dragoneer / Greenoaks / Sequoia Capital · raised $65.0B

Source: Anthropic.com / TechCrunch May 2026 ↗

Series G+124%2026-02-12

$380.0B

Led by GIC / Coatue · raised $30.0B

Source: GIC Newsroom / Anthropic.com Feb 2026(historical ref.)

Series F+176%2025-08-12

$170.0B

Led by Lightspeed · raised $5.0B

Source: TechCrunch Aug 2025(historical ref.)

Series E+54%2025-03-01

$61.5B

Led by Lightspeed · raised $3.5B

Source: Bloomberg Mar 2025(historical ref.)

Strategic+117%2024-11-22

$40.0B

Led by Amazon · raised $4.0B

Source: Reuters Nov 2024(historical ref.)

Series D+300%2024-05-01

$18.4B

Led by Amazon · raised $2.8B

Source: TechCrunch(historical ref.)

Series C2023-07-01

$4.6B

Led by Spark Capital · raised $1.3B

Source: Reuters(historical ref.)

Secondary market signals

Secondary market signals: bid/ask/trade indications from Hiive (hiive.com), Forge Global, Caplight Index, and tender prices reported in the press.

Implied valuation over time

Implied valuation · secondary market

$995B

Bid

⚠

Forge and Hiive publish aggregated market data publicly, but full order books, individual bids/asks, and confirmed trade prices require a paid account. The figures below are sourced from their public summaries, press-reported tender prices, and SEC disclosures. They represent the best publicly available signal — not a guaranteed executable price.

Date	Type	Source	Price / share	Implied valuation
2026-06-05	bid	Hiive	$1,047	$995.0B

View live indications: Hiive ↗ · SEC Form D filings ↗

Public peer comparables

Public peer comparables: editorial selection of public companies with the closest business model. EV/Revenue and growth from public 10-Q filings and Bloomberg, refreshed quarterly.

Ticker	Company	EV / Revenue	Revenue growth	As of
CRWD	CrowdStrike Holdings, Inc.	154.46x	+26%	2026-07-02
DDOG	Datadog, Inc.	25.64x	+32%	2026-07-02
MDB	MongoDB, Inc.	11.11x	+25%	2026-07-02
NET	Cloudflare, Inc.	37.54x	+34%	2026-07-02
NVDA	NVIDIA Corporation	18.88x	+85%	2026-07-02
PLTR	Palantir Technologies Inc.	57.7x	+85%	2026-07-02

Confidence breakdown

How much we trust each of the four valuation methods for this specific company, and why.

Method A — Peer-multiple

weight 25%→ $1,181.1B75% confidence

Growth-weighted peer EV/Revenue: 44.7x → 12% private-company discount → 39.4x on $30000M revenue

Method B — Secondary-implied

weight 45%→ $995.0B55% confidence

Recency-weighted average of 1 verified secondary indications (180-day decay)

Method C — Primary time-decay

weight 20%→ $1,126.9B83% confidence

$965B round (2026-05-28) × 1.17× growth × 1.00× multiple decay over 0.1 years

Method D — Sector momentum

weight 10%→ $992.0B59% confidence

$965B × (1 + 32% p.j.)^0.1yr = $992.0B via BOTZ ETF-proxy

Overall confidence

66%

Weighted average of the four methods. Above 60% is high, 35–60% medium, below 35% low.

High

Worked example for an employee

A concrete walk-through using a hypothetical employee profile. Same engine the calculator uses — try it with your real numbers.

Profile: a hypothetical employee who joined Anthropic 24 months ago (2024-07-03) with 2,000 units, on the standard 4-year vesting schedule with a 1-year cliff.

Vesting

1,000 of 2,000

50% vested at month 24

Implied share price (mid)

$1,138

weighted average of 4 methods

Gross vested value

$1,137,651

vested shares × implied price

Net value

$1,137,651

no strike, gross = net

Tax (rough)

$379,119

US federal only · AMT risk: low

What if the next round is…

Up round +30%

$1,286,041

New round at +30% valuation, 15% new shares issued

Down round −30%

$663,630

New round at −30% valuation, 20% new shares (higher dilution in distress)

Secondary today

$967,004

Sale on the secondary market at the typical 15% discount to the mid estimate

These numbers come from the same engine as the live calculator. Walk through with your own grant: use your real numbers →

Transparent assumptions

What we assumed where exact data isn't available. If any of these don't match your situation, the numbers above will be off.

Fully-diluted share count

950M shares

We don't have authoritative cap-table access for private companies. The number above is reconstructed from SEC Form D filings, secondary-market price-vs-valuation math, and leaked share-class summaries. Actual fully-diluted count (including unvested option pool and SAFEs) may differ by 5–15%.

Common-stock waterfall

1.0× to common

We assume a clean common-stock outcome — i.e. preferred-share liquidation preferences and ratchets do not extract value before common. In a down-exit, this assumption can be very wrong: preferred stack can take 30–70% of proceeds.

Private-company illiquidity discount

12% off public peers

Applied to Method A (peer-multiple). Per-company because category leaders with deep secondary markets and a clear IPO path warrant a smaller discount than early-stage names. The literature range is 10–35%; for Anthropic we use 12% based on secondary-market depth, valuation history, and proximity to liquidity.

Revenue growth assumption (Method C)

400% YoY

Compounded forward from the last primary date to today to estimate the company's value drift. Set per-company based on disclosed or reported ARR trajectory. Method C is further capped at 1.3× the most recent secondary trade (if any) to stop runaway extrapolation when revenue growth outpaces what the market is actually paying.

Sector ETF momentum (Method D)

BOTZ @ 32%/year

Method D applies the trailing return of BOTZ as a market-proxy adjustment to the primary valuation. Crude — meant as a tiebreaker when peer and secondary data conflict, not as a primary signal.

Outlier auto-downweight

Methods >50% from median get ½ weight

Robust-statistics safety net: any method whose output strays more than 50% from the median of the other three methods has its confidence weight halved when computing the blended mid-point. Prevents a single bad extrapolation from dragging the headline.

Recency decay for secondary trades

180-day half-life (e⁻ᵈ/¹⁸⁰)

A trade from 30 days ago counts ~5× more than one from 180 days ago. Tunable; some platforms use shorter half-lives.

Tax estimate

US federal only, single filer

Uses 2024 US federal brackets, ignoring state tax, NIIT, AMT credit recovery, and any other deductions. Treat as a directional sanity check, not a tax bill.

All data from public sources. Not investment, tax, or legal advice. Not affiliated with Anthropic. Last refreshed manually — see methodology for our update cadence.