Anthropic Completes Secondary Share Sale as Employees Prove Reluctant Sellers

Anthropic has wrapped up a tender offer allowing employees to sell equity stakes to investors, but the offering fell well short of investor appetite. The secondary share sale, which began earlier in 2026, was completed at the company's February valuation of $350 billion—notably separate from the $30 billion the AI startup raised in that same funding round. The crucial dynamic here: employees held the upper hand and chose not to part with their stakes in meaningful quantities. Multiple investors wanted to buy employee shares but couldn't secure as many as they intended because workers simply weren't willing to sell. This mismatch between buyer demand and seller supply reveals something striking about confidence within Anthropic's own walls—insiders are apparently bullish enough on the company's future that they're keeping their chips on the table rather than cashing out at a massive $350 billion valuation.