Allie Miller

AI Giants Poised for $2 Trillion Valuations

What are my current valuation predictions for OpenAI and Anthropic? OpenAI was valued at $28B in April 2023. Its latest funding round puts it at $852B. Anthropic was valued at $4B in early 2023. Today, it’s worth $380B. In my opinion - and this is not investment advice - these companies could easily reach $2T in valuation in the next two years. I tweeted in November 2023 that we would see companies start to raise tens of billions of dollars. At the time, I believe the largest round that we had seen was $10B, with $1B raise announcements still hitting top headlines. People - including some prominent investors - told me I was crazy. Over a year ago, I said companies would raise $100B at a $1T valuation, which is nearly what we just saw with OpenAI. Again, people said I was crazy. When you start to think of these companies as GDP movers with massive opportunity in healthcare and life science and finance (and not fun tools to create party invites, though I delight in doing that too), it’s easier to map out potential impact. Who knows if I’m right. And who knows what the timeline will bring. We could absolutely see a tech dip in the coming months. But in the fullness of time, as Amazon folks always used to say, I believe AI providers have much more value that can be created compared to what we see today, and I believe the valuations haven’t hit their maximum.