New York, January 26, 2026, 14:58 (EST) — Regular session
Shares of Zoom Communications (ZM) climbed 10.8% to $95.08 in afternoon trading Monday, hitting an intraday high of $95.76 earlier. Despite the jump, the stock is still well below its peak levels seen during the pandemic. (Barron’s)
The update came after Baird analyst William Power highlighted that Zoom’s 2023 stake in AI startup Anthropic could now be valued between $2 billion and $4 billion, depending on dilution—when new shares cut into existing ownership. Power maintained an “Outperform” rating with a $95 price target, noting that “ZM is literally invested in Anthropic’s Claude success.” (Investing)
This matters now as investors rush to revalue software firms tied to AI, while Zoom’s main video-meetings business struggles to find steady growth post-pandemic. A venture stake that might be cashed in—or simply marked up—shifts the conversation about what the stock is “really” worth.
Zoom has had a connection with Anthropic for several years. In 2023, the company revealed it had invested in the AI startup and intended to weave Anthropic’s technology into Zoom’s products. This move fits into Zoom’s wider strategy to enhance its offerings amid competition from Microsoft Teams and other workplace platforms. (Reuters)
The company has pushed Wall Street to see AI as more than just a feature. Back in November, Zoom raised its full-year forecast, pointing to strong demand for AI tools in hybrid work setups. Valoir CEO Rebecca Wettemann noted that including Zoom’s AI Companion in paid plans might boost user adoption. (Reuters)
Zoom’s gains came as the broader market pushed higher. The S&P 500 and Nasdaq each climbed roughly 0.6% by midday, providing a stronger footing for tech stocks. (Reuters)
But the AI-stake story isn’t without complications. Valuations for private companies can fluctuate, and any fundraise or IPO down the line would probably dilute Zoom’s ownership. Plus, the stake isn’t part of Zoom’s core operations, and investors remain cautious about counting paper gains as real cash.
The next catalyst is right around the corner. Zoom is set to release earnings around Feb. 23, per Nasdaq’s calendar, with investors keen to hear about enterprise demand, paid AI features, and management’s take on their investment portfolio. (Nasdaq)
