Following OpenAI? Anthropic allows employees to cash out, with the amount reaching up to $6 billion.

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AI startup Anthropic is launching an employee stock sale program, allowing current and former employees to cash out at the company’s latest valuation from its most recent funding round.

On February 24th, according to Bloomberg and tech media The Information, sources revealed that Anthropic has arranged a funding scale of $5 to $6 billion for this stock sale, with the final amount depending on the number of eligible employees who choose to sell their shares. The transaction price will be based on the company's valuation of about $350 billion, matching the valuation in Anthropic’s $30 billion fundraising earlier this month.

It is reported that the transaction will be carried out by external investors purchasing shares held by insiders, not by Anthropic itself. With AI companies generally choosing to extend their privatization phases, secondary market stock sales have become an important way for startups to enable employees to benefit from valuation growth without acquisitions or IPOs.

This is, after OpenAI, another top-tier AI company adopting secondary market transactions to provide liquidity for its employees, highlighting the trend among large startups to retain talent through equity cash-outs in the fierce competition for AI talent.

Transaction Details: Valuation and Eligibility

According to Bloomberg, the valuation for this stock sale is about $350 billion, consistent with the funding round completed earlier this month. Sources say the post-money valuation for that round was $380 billion, which included investor cash infusions.

The transaction targets current and former employees who have worked at Anthropic for at least 12 months. Sources say that while $5 to $6 billion in acquisition funds have been arranged, the actual transaction size will depend on eligible employees’ willingness to participate and the number of shares sold.

It is reported that the transaction details have not been finalized and may still change.

Earlier this month, Anthropic announced the completion of a $30 billion fundraising round led by Singapore's sovereign wealth fund GIC and Coatue, with D.E. Shaw Ventures, Dragoneer, Founders Fund, Iconiq, and MGX co-leading.

A New Tool in the AI Talent War

Secondary market stock sales are becoming a key tool for tech startups coping with fierce talent competition, especially in AI. As more large startups opt to prolong their privatization periods, channels for employee equity cash-outs are becoming increasingly important.

In addition to Anthropic, companies such as Stripe and SpaceX have also allowed employees to sell shares. OpenAI has been particularly active in this area, conducting multiple employee stock sales, including a $6.6 billion secondary market transaction completed last year at a $500 billion valuation.

This practice enables employees to realize actual gains from valuation growth without the company going public or being acquired, helping startups stay attractive in the fiercely competitive AI talent market.

It’s worth noting that Anthropic, OpenAI, and SpaceX have all recently taken steps to prepare for initial public offerings.

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