The secondary market for private company shares has reached unprecedented levels of activity, driven largely by investor interest in artificial intelligence companies, according to Glen Anderson, president of Rainmaker Securities.

Anthropic has emerged as the most sought-after trade in the private markets, Anderson reported. The AI safety company, known for developing the Claude chatbot, has captured significant investor attention as the sector continues to evolve rapidly.

Meanwhile, OpenAI, the creator of ChatGPT, appears to be losing momentum in secondary trading activity. The shift suggests changing investor sentiment toward different AI companies as the competitive landscape develops.

SpaceX's potential initial public offering is expected to significantly impact the private markets landscape. Anderson indicated that the aerospace company's move toward going public could reshape trading dynamics for other private companies seeking liquidity.

The heightened activity in private secondary markets reflects broader investor enthusiasm for AI and technology companies, even as public markets have experienced increased volatility. Secondary markets allow employees and early investors to sell shares before companies go public, providing liquidity in otherwise illiquid investments.

The developments highlight the growing maturity of the private markets ecosystem, where trading volumes and investor interest have expanded substantially beyond traditional venture capital circles.