Anthropic is launching a secondary share sale that will allow current and former employees to sell stock at a valuation of about $350bn, according to Bloomberg, in a move designed to provide liquidity without pursuing an initial public offering.
The artificial intelligence company has lined up between $5bn and $6bn for the transaction, Bloomberg reported, citing people familiar with the matter. The final size of the offering will depend on how many eligible employees choose to participate. The terms have not been finalised and could still change.
Outside investors — rather than Anthropic itself — will purchase the shares. The deal is expected to be open to employees who have worked at the company for at least 12 months, including some former staff.
The share sale follows Anthropic’s latest funding round earlier this month, which valued the company at $380bn post-money, including new capital raised. The proposed secondary offering is priced below that figure, allowing investors to acquire insider shares at a discount to the most recent fundraising valuation. Anthropic declined to comment on the reported transaction.
Secondary sales have become increasingly common among high-growth technology firms, particularly in the artificial intelligence sector. They enable staff to realise gains from rising valuations while companies remain private and delay stock market listings.
Rival AI developer OpenAI has repeatedly facilitated secondary transactions, including a $6.6bn share sale last year at a reported $500bn valuation, Bloomberg has previously reported. Stripe and SpaceX have also used similar structures to provide employee liquidity.
The move highlights intensifying competition for talent in the AI industry, where equity compensation plays a central role in recruitment and retention. As valuations surge and public listings remain uncertain, secondary sales offer a mechanism to reward early employees without diluting operational control through a public float.
Anthropic, OpenAI and other leading AI firms have taken preliminary steps towards potential public offerings in recent years. However, large private funding rounds have reduced immediate pressure to list.
The latest transaction suggests Anthropic is balancing investor demand with employee expectations, as it scales operations amid heightened scrutiny over AI governance and commercialisation.
Whether the company proceeds towards an IPO in the near term remains unclear. For now, the secondary sale provides a structured exit route for insiders while reinforcing Anthropic’s position among the most highly valued private technology companies globally.