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Topic

Private AI valuations

Rapidly compounding private marks for frontier labs and AI companies — OpenAI at $852bn, Anthropic at $965bn after $380bn a quarter earlier, Reflection AI's reported $25bn ask — and the difficulty of pricing them without a market quote.

Current stories

investOne report1 publisher

A 10% slice of Legora would now cost Insight 4.4% of its newest fund

Insight Partners manages more than $90 billion and holds late-stage co-investment exposure to both OpenAI and Anthropic, but its direct AI money goes to vertical applications. The legal AI round it skipped is now priced at $5.55 billion.

Reality

Evidence32
Adoption
Not scored
Hype gap+28
Incentives68
Confidence34
investOne report1 publisher

Anthropic and OpenAI added $1.74 trillion of private paper value in twelve months

DeFiLlama now marks the two labs at $2.28 trillion against an implied $544 billion a year ago, which leaves every bank pitching an AI listing to price against a reference no public order book has tested.

Reality

Evidence28
Adoption
Not scored
Hype gap+55
Incentives72
Confidence36
productOne report1 publisher

Lightspeed's Project Mercury puts the firm on both sides of the OpenAI price

The continuation fund buying Lightspeed's OpenAI stake will be managed by Lightspeed. Coller Capital's cheque is the only outside check on the transfer price.

Publishers:thenextweb.com

Reality

Evidence34
Adoption52
Hype gap+14
Incentives82
Confidence42