Private share platforms including Forge Global are pricing Anthropic at an implied valuation of roughly $1 trillion, ahead of OpenAI's ~$880 billion secondary price, according to reporting citing Forge Global CEO Kelly Rodriques. The jump — more than 2.5x Anthropic's $380 billion primary valuation from its February 2026 Series G — reflects a revenue run-rate surge from $9 billion in late 2025 to $30 billion by March 2026, largely attributed to enterprise adoption of Claude Code. Secondary prices reflect illiquid minority shares with no guaranteed path to liquidity, not a primary fundraise.