This market will resolve to “Yes” if, at any point, Anthropic's most recent public or private valuation is greater than OpenAI's most recent public or private valuation, by December 31, 2026 (ET). Otherwise, this market will resolve to “No”. Private valuation refers to the valuation of a company as established in a completed funding round. Qualifying private valuations must be explicitly confirmed by the company whose value is observed, or an overwhelming consensus of credible reporting. Public valuation refers to the company’s market capitalization (number of shares outstanding multiplied by the current share price). The primary resolution source will be official communications from Anthropic and OpenAI; however, a consensus of credible reporting may also be used.