Private markets have become the primary venue for pricing the AI boom. On P2P Shares, reference valuations for the largest AI labs now sit at levels that would have seemed extraordinary just a few years ago: Anthropic at roughly $965B, OpenAI near $852B, and xAI around $230B, based on the latest funding rounds and secondary activity we track.
The pattern is consistent across the sector — companies are staying private longer, raising larger rounds at higher marks, and relying on secondary marketplaces like this one to give early employees and early investors a path to liquidity without forcing a premature IPO.
For investors, that means the most significant value creation in AI is increasingly happening before these companies ever ring a public bell — which is exactly the gap peer-to-peer share marketplaces exist to close.
Reference valuations are indicative, sourced from the P2P Shares platform, and update as new funding and order-book data arrives. They are not an offer to buy or sell securities.