Anthropic's pre-IPO market valuation has surged to over $120 billion, surpassing OpenAI's valuation by approximately 20%. This significant increase positions Anthropic as a major player in the tech industry, with its valuation now exceeding that of its competitor, OpenAI. If Anthropic goes public at this valuation, it would rank as the 11th largest company globally by market capitalization, trailing only behind giants like Apple, Microsoft, and NVIDIA. This development highlights the growing investor confidence in Anthropic's potential and its competitive edge in the AI sector.