Privately held AI company Anthropic could be valued at $900 billion in a new funding round as it nears profitability and approaches an estimated $10.9 billion in second-quarter revenue. The milestones come ahead of a highly anticipated IPO.
A potential public offering would also shine a spotlight on Anthropic's backers, which include major technology firms alongside a range of smaller investors.
Zoom Among the Anthropic Investors
Estimates from Autopilot show the following investors and estimated ownership stakes:
- Amazon.com Inc (NASDAQ: AMZN): 18%
- Alphabet (NASDAQ: GOOGL): 14%
- Nvidia Corporation (NASDAQ: NVDA): 13%
- Microsoft Corporation (NASDAQ: MSFT): 3%
Both Alphabet and EchoStar Corporation (NASDAQ: SATS) own stakes in SpaceX, but it's the smaller EchoStar that could benefit the most from the unlocked value of its stake when the space company goes public.
The same could be said for Zoom, which has a current market capitalization of $28.6 billion.
Zoom invested a reported $51 million in Anthropic in 2023. That investment has increased in value many times over thanks to the rising valuation for Anthropic.
The investment was part of a partnership announced at the time, under which Zoom would use the Claude AI assistant.
"Collaborating with Zoom allows us to bring robust, steerable AI to more people in the workplace," Anthropic CEO Dario Amodei said at the time. "We are excited to showcase Anthropic's and Zoom's commitment to boosting productivity through AI-enabled solutions that prioritize safety and helpfulness."
Zoom Ventures invested in Anthropic, though the amount was not disclosed. A later Zoom filing showed $51 million in "strategic investments" during the same quarter as the Anthropic announcement.
Analysts have taken notice of Anthropic's stake, but investors may be overlooking the potential catalyst. With the reported $900 billion valuation, analysts are likely to update their price targets.
Anthropic Stake A 'Hidden Gem'
In January, Wedbush analyst Dan Ives estimated that Zoom's stake in Anthropic was worth between $1.6 billion and $4.4 billion based on Anthropic's valuation of around $350 billion.
In the same month, analysts at Baird estimated the Zoom stake to be worth $2 billion to $4 billion based on the same $350 billion valuation for Anthropic.
With the $900 billion valuation for Anthropic, here's what Zoom's stake would look like today:
- Wedbush: $4.11 billion to $11.31 billion
- Baird: $5.14 billion to $10.28 billion
Zoom Stock Rebounds on Q1 Earnings
Alongside the rising value of Anthropic and a potential IPO that could unlock value for Zoom, the video conferencing company is seeing its shares soar after first-quarter earnings.
Zoom reported first-quarter revenue of $1.24 billion, up 5.5% year over year, topping analyst expectations for both revenue and earnings per share. It marked the 15th consecutive quarter the company has beaten estimates on both metrics.
The company cited strong adoption of its AI Companion and My Notes features, underscoring momentum in its push into AI-driven tools and monetization.
Zoom also raised its full-year guidance for both revenue and earnings per share.
With or without an Anthropic IPO, Zoom could be a stock to watch for its AI efforts. Any news of an Anthropic IPO could put increased attention on the stock.
Price Action
Zoom shares are up 11.9% to $108.30 on Friday. The stock hit a new 52-week high of $113.73 on Friday, marking its highest level since August 2022. The company's stock is up 25.4% year-to-date in 2026.