Anthropic frenzy: tech mogul bets millions on ai startup’s dominance
A desperate scramble for shares in Anthropic is underway, fueled by a billionaire’s audacious move and a valuation that’s reached astronomical heights.
The billion-dollar bet
Storm Duncan, a veteran of the tech world and founder of the boutique investment firm Ignatius, is offering up his 4.8 million dollar stake in the rapidly ascending AI startup – a move that’s ignited a firestorm of activity in the secondary markets.
“If you’re going to fish, you’ve got to put a worm on the hook,” Duncan stated bluntly in an interview with Business Insider, revealing his reasoning: “What’s my other option? Not to be in this?”
This comes as Anthropic’s valuation has surged to a staggering $1 trillion, driven by investor excitement over its explosive revenue growth and the buzz surrounding its coding assistant, Claude Code. The company is now approaching a $800 billion valuation, fiercely competing with OpenAI’s ChatGPT.
Duncan, who resides primarily in Jackson Hole, Wyoming, isn’t just throwing in his chips; he also holds other properties, but strategically chose to list this 13-acre Mill Valley estate – complete with panoramic San Francisco views, an infinity pool, and a spa – as a targeted acquisition for Anthropic employees. “It’s just 20 minutes from Anthropic’s offices in the city,” he noted. “Probably no Anthropic employee wants my Miami or Jackson Hole house.”
Duncan’s strategy is clear: to attract employees holding legitimate shares, many of whom are currently restricted from selling until an IPO. He’s already received multiple offers, ranging from current Anthropic staff to early investors. “Some of them are employees, and some are just early investors,” he commented, “I think they’re serious, but it’s a complex transaction.”
The situation echoes a similar, albeit more eccentric, event in 2005 when artist David Choe traded stock options for Facebook murals, ultimately netting him an estimated $200 million upon the company’s IPO. During the dot-com boom, some real estate owners even sought startup shares in exchange for office space in San Francisco. Duncan, who acquired Anthropic stock in 2024, believes the company’s output will “triple” and costs will “reduce by 50%” thanks to the implementation of Claude Code within his own firm – fueling his desire for greater exposure.
Some analysts dismiss Duncan’s offering as mere publicity or a signal of a market bubble. Others joke about his real estate holdings being more valuable than the Anthropic stock itself. Despite the skepticism, Anthropic continues to forge partnerships with tech giants like Apple and Amazon, integrating its advanced AI Mythos models. Duncan insists his offer is genuine and not driven by a desire for attention, citing the difficulty for small investors to directly acquire substantial holdings.
The secondary market’s scarcity has inflated prices, making it challenging for buyers to secure shares without facing hefty fees and opaque ownership structures. Duncan, who already holds his own Anthropic shares, believes the opportunity to diversify is now within reach for many.
Ultimately, the race for Anthropic shares – and the immense potential they represent – highlights a unique, and increasingly frenzied, avenue for accessing the bleeding edge of artificial intelligence.