Zoom Stocks Signal Hidden Investment Value: How a $51M Anthropic Bet Could Return $2-4 Billion

Video conferencing platform Zoom made a strategic investment that Wall Street analysts are now recognizing as a potentially transformative asset for shareholders. In early 2025, markets suddenly woke up to the massive value embedded in one of Zoom’s quietest financial moves from nearly two years prior. The company’s stocks surged, reflecting renewed investor interest in what some are calling the firm’s most underappreciated position.

Back in May 2023, Zoom announced a partnership with Anthropic, the company behind the Claude AI platform. The two firms kept the financial terms confidential at the time. However, Baird analyst William Power recently pieced together the puzzle: Zoom had invested approximately $51 million in the AI startup during that quarter. The implications are staggering.

The Hidden Investment: Zoom’s Anthropic Stake Emerges as Major Asset

Anthropic’s current valuation sits at $350 billion. Based on this figure, Zoom’s original $51 million investment could now command a value between $2 billion and $4 billion, depending on dilution assumptions. That translates into a potential return exceeding 78 times the initial capital deployed. Power described this as a “hidden gem” that the broader market has largely overlooked for nearly two years.

This discovery highlights a critical disconnect in how market participants evaluate mature technology companies. Zoom’s core video conferencing business has faced significant headwinds. Growth rates have moderated. The pandemic-era momentum that once drove explosive subscriber additions has dissipated. Investors had largely written off Zoom as a mature, legacy platform struggling to reinvent itself.

Yet beneath the surface, the company held a golden ticket. Most stock analysts covering Zoom failed to factor this investment into their valuation models. The 13 Buy ratings, 7 Hold ratings, and 1 Sell rating among the 21 analysts covering the name were based on an incomplete investment thesis. The prior average price target of $99.11 likely undervalued the firm’s true asset base.

From Struggling Video Platform to AI Investment Player

Zoom’s investment in Anthropic was not merely a passive financial bet. It represented a strategic attempt to position the company within the AI revolution sweeping through technology markets. While Zoom launched several AI-related product enhancements and expanded its CX communications offerings, the Anthropic investment provided something far more valuable: direct exposure to one of the hottest AI developers on the planet.

Claude, Anthropic’s flagship AI model, has gained substantial traction in the market. The platform serves developers, enterprises, and consumers who recognize it as a viable alternative to other large language models. The explosive demand for AI capabilities has driven Anthropic’s valuation upward at breathtaking speed. For Zoom shareholders, this meant their $51 million investment from 2023 was compounding at extraordinary rates.

The contrast is stark. Zoom’s primary video conferencing business generates steady revenue and serves a reliable customer base. However, growth is incremental. The market assigns relatively modest multiples to mature communications platforms. But the Anthropic investment offers a different profile entirely: exposure to exponential AI adoption curves, venture-level return potential, and a pure-play bet on artificial intelligence without the legacy business baggage.

Stocks Could Soar if Anthropic Goes Public

The ultimate catalyst for Zoom shareholders may still lie ahead. Anthropic has not officially announced IPO plans. However, recent reports indicate the company has engaged legal advisors known for guiding firms through initial public offerings. This signaling suggests market conditions and internal planning timelines may favor a public offering within the medium term.

Should Anthropic go public, the implications for Zoom stocks would be profound. An IPO would provide a transparent market valuation for Zoom’s stake. The $2-4 billion range estimated by Power could be crystallized into actual shareholder value. Additionally, public markets would likely place significant premiums on pure-play AI developers with established platforms like Claude. An Anthropic IPO could potentially value the company even higher than the current $350 billion assessment.

Wall Street has begun reassessing its Zoom thesis in light of this revelation. The prior price targets established before the Anthropic investment became public knowledge now appear conservative. Analysts are recalibrating their models to reflect the hidden investment value. For investors, this represents a rare opportunity where a mature-seeming company harbors embedded venture-level returns.

Zoom closed trading at $95.42 on the day the Anthropic investment details emerged. While the stock remains significantly below its pandemic-era highs, the Anthropic investment could provide the revaluation catalyst the market has been seeking. The company now represents two distinct investment propositions: a stable video communications platform with modest growth prospects, and a significant stakeholder in one of the world’s most valuable AI developers. Investors may have finally begun to recognize which opportunity carries more weight.