OpenAI has seen a 'resurgence' of interest in secondary markets.
OpenAI is experiencing a resurgence in secondary market demand following the release of new models and the Codex coding agent. While Anthropic remains the preferred choice for investors, OpenAI's recent performance has significantly improved its standing after a period of negative sentiment.
Why it matters
Secondary market activity for pre-IPO AI companies serves as a key indicator of investor confidence and valuation trends in the private tech sector.
Bloomberg/Getty Images Since Anthropic and OpenAI have yet to IPO, most investors buy stock on secondary markets. For most of this year, investors wanted only shares of Anthropic, with almost no interest in OpenAI. While Anthropic still remains the clear favorite, OpenAI has seen a considerable uptick in demand. For most of this year, investors couldn't get enough of Anthropic while largely ignoring OpenAI. Now the tide is turning: although Anthropic remains the clear favorite, OpenAI is experiencing a significant surge in demand after it released highly touted new models and saw success with its AI coding agent, Codex. "In the last month, there has been a resurgence in interest," said Dave McClure, founder and managing partner at Practical Venture Capital, which buys secondary shares in pre-IPO companies.
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