Anthropic says it has identified eight firms trading its shares without authorization and warns investors that those purchases may not be valid. The issue highlights how secondary markets let early investors and employees sell stakes in private companies—an increasingly common practice as more firms remain private longer.
Anthropic has warned investors that several secondary platforms are not authorized to help buy or sell its shares. In a notice naming companies including Open Doors Partners and Forge Global, the firm said these platforms should not be considered legitimate access points for its equity. The move adds fresh caution for anyone using share-trading intermediaries outside official channels.
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OpenAI employees, including some former staff, reportedly took part in a secondary share sale in October 2025. The collective $6.6 billion transaction valued the company at about $400 billion and enabled roughly 75 participants to liquidate holdings worth up to $30 million each. The report highlights how quickly employee equity can turn into major cashouts.
Peter Thiel’s Founders Fund has raised a record $6 billion for its latest growth-stage vehicle, fueled mainly by external limited partners. The firm’s capital will move fast, reflecting a shift toward mature startups securing large private rounds instead of relying on public markets. Investors can expect roughly a dozen highly concentrated bets.
SpaceX pre-IPO interest is exploding in 2026 as the company eyes a $1.75 trillion valuation, pulling in global investors. But SpaceX is still private, so direct purchases are limited to institutions and accredited buyers. The surprising workaround: some investors ride indirect exposure through existing corporate stakes and funds that track private-company positions.
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