Investors are rushing to claim stakes in AI through SPVs, secondary markets, and pre-IPO perpetual futures—synthetic or real—because demand for ownership outstrips supply. Framed by the internet’s evolution from “read” to “write” to “own,” this trend shows the next phase democratizes economic rights in AI alongside its technologies.

• Investors are turning to SPVs, secondary markets, and even crypto perpetual futures to get exposure to AI companies before they IPO, since demand for ownership far outstrips available supply.
• Chris Dixon's "read, write, own" framework explains this: after the internet made info accessible (read) and let anyone publish (write), the current phase is about owning stakes in the tools/networks people use.
• AI is framed as the culmination of the read/write era—models and agents that consume, generate, and act on data—making it the natural next target for this ownership wave, even via synthetic pre-IPO derivatives.

Secondary-market trades on Forge Global pushed Anthropic’s valuation to about $1 trillion, surpassing OpenAI’s roughly $880 billion price. The surge reflects scarce share supply, rapid revenue growth (from a $9 billion to $39 billion annual run rate), and partnerships with Amazon and Palantir.

• Anthropic's secondary-market valuation hit ~$1 trillion on Forge Global, surpassing OpenAI's ~$880 billion, up from just $380 billion three months earlier
• Anthropic's annualized revenue run rate jumped from $9 billion (late 2025) to $39 billion (March 2026), fueling investor demand
• Share scarcity is driving frenzied bidding, with offers ranging from $960 billion to $1.05 trillion and some even involving property trades
• Growth is tied to Claude Code's popularity and major partnerships with Amazon and Palantir