Zoom’s investment in artificial intelligence company Anthropic may be worth US$2 billion to $4 billion, Baird analysts estimated, with Zoom’s shares surging by 11%.
Zoom invested an undisclosed amount in Anthropic in 2023 and said it would incorporate Anthropic’s Claude chatbot into its customer-facing AI offerings. Zoom reported $51 million in investments that quarter, with Baird analysts estimating that at least a large majority of this was in Anthropic.
“While we (and the market) have been primarily focused on ZM’s ability to gradually reaccelerate revenue growth and capture AI opportunities, the quieter, hidden gem might be its $51 million investment in Anthropic in 2023,” wrote Baird analyst William Power.
“ZM is literally invested in Anthropic’s Claude success, and as Anthropic IPO rumours accelerate, the investment could become even more meaningful.”
Anthropic signed a term sheet for a $10 billion funding round earlier this month, which values the company at $350 billion. The round will be led by Coatue Management and Singaporean sovereign wealth fund GIC.
According to Baird’s analysts, Anthropic’s $350 billion valuation could mean Zoom may receive a return of around 78 times its initial investment.
Anthropic had been valued at $183 billion in its last funding round in September. It hired law firm Wilson Sonsini to work on a potential initial public offering this year, the Financial Times reported last month.
Zoom’s (NASDAQ: ZM) shares closed 11.3% higher at $95.46, and rallied by a further 3.2% after-hours. Its market capitalisation is $28.27 billion.
