How to Invest in Anthropic Stock Before Its IPO: 7 Ways to Buy Into the AI Company Behind Claude

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Anthropic has quickly become one of the most highly anticipated initial public offerings (“IPOs”) ever. Although the company is still private, investors looking to buy shares have a handful of ways to do so before the company goes public, including one specific way to get direct access to the stock.

Anthropic runs the Claude series of artificial intelligence (“AI”) chatbots, and its key independent rival is OpenAI, the company behind the ChatGPT range of models. In June, Anthropic filed its IPO paperwork confidentially with the Securities and Exchange Commission. Shortly after, OpenAI announced that it too had submitted its paperwork to go public.

While it has been long-rumored that Anthropic is targeting an IPO in October, it’s still unclear exactly when the company will go public and at what valuation. However, given the company’s results from recent fundraising rounds, Anthropic is looking for a figure well above $1 trillion:

• November 2024: Raised $4 billion at a $40 billion valuation

• March 2025: Raised $3.5 billion at a $61.5 billion valuation

• September 2025: Raised $13 billion at a $183 billion valuation

• February 2026: Raised $30 billion at a $380 billion valuation

• May 2026: Raised $65 billion at a $965 billion valuation

Investors will be looking closely at the forthcoming prospectus when it’s released to see if it’s worth that $1 trillion valuation. In particular, they’ll be evaluating the company’s ability to generate sustained profits.

Investors looking at this skyrocketing valuation are licking their chops in anticipation. (Check out the most important financial warning of Whitney Tilson’s 30-year career.)

Here are seven ways that investors can get exposure to Anthropic before its IPO, though the exact ownership percentages are rough estimates.

1. Buy Shares on a Secondary Exchange

A secondary exchange lets investors buy shares of stock from other investors or insiders, such as employees, before the shares hit the public market. You’ll need to be an accredited investor (more below) to purchase on a secondary exchange, but it can be a valuable credential to have.

By buying shares directly, your full investment will go into Anthropic, instead of also being invested in other companies, which dilutes the impact of Anthropic’s performance. Of course, you’ll want to pay careful attention to how much you’re paying for shares, since these secondary markets are illiquid and shares may be trading hands at much higher than the official valuation.

Popular secondary exchanges include Forge, Hiive, and EquityZen, though trading requirements differ for each one.

2. Invest in the Fundrise Innovation Fund (VCX)

The Fundrise Innovation Fund (VCX) owns a variety of hot private companies that are likely to IPO in 2026, including Anthropic, OpenAI, and Anduril Industries. Anthropic made up a relatively concentrated 16.5% of the portfolio, as of March 31, giving investors solid exposure to the stock. In fact, AI investments make up nearly two-thirds of the portfolio, if that’s what you’re looking for.

Investors should pay careful attention to the fund’s valuation, however, since it can be valued much more highly than its portfolio holdings, exposing investors to significant downside.

3. Invest in the ARK Venture Fund (ARKVX)

The ARK Venture Fund (ARKVX) owns a variety of private companies as well as the recently listed SpaceX (SPCX). Anthropic comprises 4.59% of the fund’s assets, as of June 30, 2026, with other prominent firms also having significant positions, such as OpenAI (6.33%) and Stripe (4.37%).

4. Buy Amazon (AMZN) to Invest Indirectly

Amazon (AMZN) has made various investments in Anthropic that give it a significant position. Amazon invested $1.25 billion in late 2023 and a further $2.75 billion in early 2024. It put in another $4 billion in late 2024.

In April 2026, Amazon added another $5 billion to its investment and offered a further $20 billion investment if Anthropic hits certain milestones. Amazon also participated in Anthropic’s fundraising round in May, upping its investment by a further $5 billion.

Amazon’s stake is estimated at a mid-teens percentage, which would be worth around $145 billion at Anthropic’s recent valuation, assuming a 15% stake. That would comprise about 5.7% of Amazon’s recent $2.56 trillion market capitalization.

5. Buy Alphabet (GOOGL) to Invest Indirectly

Alphabet (GOOGL) has made a variety of investments in Anthropic over the years, including a $300 million stake in early 2023, a $2 billion stake in October 2023, and a further $1 billion in early 2025. It also announced a further $10 billion investment at a $350 billion valuation for Anthropic, with the potential for $30 billion more if Anthropic reaches certain performance milestones.

Alphabet owns an estimated 14% stake in Anthropic, which would be worth $135 billion at the company’s most recent valuation, or about 3.3% of Alphabet’s $4.1 trillion market capitalization.

6. Buy Nvidia (NVDA) to Invest Indirectly

Nvidia (NVDA) made a $10 billion investment in Anthropic, at least a portion of which was made at a $380 billion valuation, with estimates putting its stake at 2.8%. This stake would be worth about $27 billion at the most recent valuation, or less than 1% of Nvidia’s $4.7 trillion market cap.

7. Buy Microsoft (MSFT) to Invest Indirectly

Microsoft (MSFT) made a $5 billion investment in Anthropic, at least a portion of which was made at a $380 billion valuation, with estimates sizing the stake at 1.4%. This holding is worth about $13.5 billion at Anthropic’s recent valuation, or less than 1% of Microsoft’s $3.4 trillion market cap.

What’s the Best Way to Invest in Anthropic?

If you’re really trying to buy into Anthropic, you’re looking for the purest exposure you can get. In other words, you want all or most of your money invested in this stock instead of the other holdings in a fund or as part of a larger company such as Amazon. So, buying shares on a private exchange offers the most bang for your investment buck if that’s what you’re looking for.

The downside for many investors, however, is that to buy private shares you’ll generally need to qualify as an accredited investor. This process involves qualifying in one of three main ways:

• Have a net worth of more than $1 million, excluding your primary residence.

• Earn $200,000 (individually) or $300,000 (with a spouse) over the past two years and expect to do the same this year.

• Financial professionals with a Series 7, Series 65, or Series 82 license, among others.

While this accreditation can be a hurdle for many investors, the standard is meant to limit such private investments to knowledgeable investors or at least those who can sustain a major loss.

Buying Anthropic shares directly on a private exchange is the best way to invest in the company if that’s the exposure you want. Investing in funds or companies that hold a small share of Anthropic means your investment won’t move much even if Anthropic does soar as you expect.

Regards,

James Royal, PhD

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