On-chain Markets Price Anthropic at $1.4 Trillion Pre-IPO

On-chain trading in tokenized, pre-IPO instruments listed on the Jupiter marketplace values Anthropic at an implied $1.4 trillion. Those instruments, which are backed 1:1 by special-purpose vehicle exposure, have lifted the implied valuation about 40% in the past 24 days and roughly 1,067% since October 2025.

Reported company revenue rose from $100 million in 2023 to $45 billion in the most recent period, a roughly 1,400% increase on an annualized basis. Because Anthropic remains privately held, the Jupiter products are being used for price discovery by investors ahead of any formal public offering.

Anthropic’s Claude model is being bundled into commercial systems. Financial technology firm FIS has built a Financial Crimes AI Agent that uses Claude to extract evidence from banking platforms, compare account activity to known laundering patterns and prioritize suspicious cases for investigators. FIS said client data will remain inside FIS-controlled systems and that Anthropic’s Applied AI team and forward-deployed engineers are working on integration. BMO and Amalgamated Bank are cited as early deployers, with wider availability planned for the second half of 2026.

Jonathan Pelosi, Head of Financial Services at Anthropic, described Claude as able to “reason through complex investigations accurately, explain its findings, and operate safely within a regulatory workflow.” FIS emphasized that the product combines the FIS banking platform, transaction data and compliance systems with Anthropic’s models.

European officials and companies are also addressing access to AI models focused on cybersecurity. OpenAI is making a cyber version of its latest model available to vetted cybersecurity teams in EU countries and to EU institutions. A European Commission official welcomed OpenAI’s transparency in offering access to the Commission and said regulators will monitor the rollout. The official added that the EU has held “four or five” meetings with Anthropic but that those discussions are at a different stage than talks with OpenAI. Anthropic’s latest model, Mythos, remains under review with European stakeholders.

Anthropic was founded to develop large language models and conversational agents. The current on-chain pricing reflects trading in secondary private-market products rather than a public equity market valuation.