With the release of new models and the disclosure of data on the use of business products, OpenAI renewed its interest in the unlisted secondary equity market. According to several secondary market traders, the buyer ' s request for and bid for OpenAI has increased significantly over the past month, although Anthropic is still the more popular target.

The new model drives the buyback.

According to several secondary market participants interviewed by Business Insider, the new model recently launched by OpenAI, as well as the AI proxy product for programming scenarios, Codex, gave investors a reason to reassess the company.

OpenAI previews the flagship model GPT-5.6 Sol in June and expands its distribution this month with the introduction of GPT-5.6 Terra and lower-cost GPT-5.6 Luna. It was reported that GPT-5.6 Sol was near the industry ' s top in the independent benchmarking test, but still below the Anthropic ' s latest Claude series model.

9 million active users of enterprise products

The co-founder of an unlisted technology company equity trading platform stated that investors were returning to OpenAI. Another agency responsible for providing an investment channel for late start-ups mentioned that the top executive of OpenAI had revealed last week that the two corporate platforms, Codex and ChatGPT Work, had reached 9 million active users.

According to marketers, this set of data suggests that the use of AI proxy products is expanding from the group of developers to a broader range of professional work processes, including coding, research and knowledge-based work.

OpenAI valuation is lower than Anthropic

Since neither OpenAI nor Anthropic are on the market, outside investors buy employees or shares transferred by early investors mainly through the secondary market. Such markets are characterized by limited liquidity and fragmented offers, and the relevant valuations are usually only inter-temporal and not consecutive prices.

  • OpenAI Secondary Market Values about $93.3 billion
  • The valuation has increased by about 20% in the last three months.
  • Anthropic Secondary Market Valuation about $1.2 trillion

According to the report, Anthropic has been much more popular this year. Some traders are now looking at OpenAI as a relatively cheap option and using it to hold on to the existing Anthropic.

Continuous pressure from China and open source models

Despite the warming of the market, competitive pressures have not abated. Sam Altman wrote on platform X last week that the company has not performed best in the past 12 months, but that it is expected to deliver stronger results in the next 12 months.

On the same day, Moonshot AI of China launched a new model, Kimi K3, called the largest open weight AI system in the world. The investors interviewed argued that competition from Chinese companies and open source models would continue to compress OpenAI ' s growth space and profitability performance.