OpenAI secondary shares trade at implied $475B valuation, down 44% from $852B round
SumitGup · x · 2026-09-15
- Secondary market shares of OpenAI are reportedly being offered at an implied $475 billion valuation, roughly 44% below the $852 billion valuation from its primary round earlier this year — putting a rumored $1 trillion IPO in doubt.
- Anthropic is reportedly being offered around $700 billion on secondary markets while pitching an IPO valuation between $1-2 trillion.
- The author cautions that secondary market quotes are notoriously unreliable, but the gap is being read as a possible reason OpenAI delayed its IPO plans.
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