New York, Jan 27, 2026, 04:54 EST — Premarket
- Zoom shares jumped 11.3% on Monday, pushing the stock price up to $95.46.
- A Baird note highlighted the potential multi-billion-dollar value tied to Zoom’s reported stake in Anthropic.
- Attention now turns to updates on Anthropic’s funding plans and Zoom’s upcoming earnings report.
Zoom Communications (ZM.O) hovered around $95.46 in early premarket Tuesday, after surging 11.3% the day before. The jump came after an analyst highlighted Zoom’s connection to AI startup Anthropic.
This rally is significant since Zoom has long struggled to prove it can return to growth now that video meetings are more routine than vital. The market has also shown a quick appetite for anything tied to AI, even if the connection to near-term revenue remains weak.
A venture stake isn’t the same as boosting subscription numbers. But when growth slows and shares linger well below their pandemic peaks, a big jump in an outside investment’s value can shift how investors see the company’s worth—at least temporarily.
William V. Power at Baird dubbed the investment “the quieter, hidden gem” in a Monday note, putting the Anthropic stake’s value between $2 billion and $4 billion depending on dilution—the shrinking of existing stakes when new shares are issued. Power stuck with an Outperform rating and a $95 price target. Zoom shares remain roughly 83% below their October 2020 peak, Barron’s reported. (Barron’s)
In May 2023, Zoom revealed it had poured an undisclosed amount into Anthropic and planned to embed the startup’s AI into its video-conferencing platform, Reuters reported. This move is part of Zoom’s push to enhance its offerings amid stiff competition with Microsoft’s Teams for enterprise clients. (Reuters)
Anthropic grabbed headlines after the Wall Street Journal reported plans to raise $10 billion, aiming for a $350 billion valuation. According to Reuters, Singapore’s sovereign wealth fund GIC and Coatue Management are expected to lead the round, though the terms remain fluid. A higher valuation would boost the paper value of earlier stakes throughout the cap table, but it usually means more dilution for current investors. (Reuters)
Zoom’s financials have reflected significant volatility linked to “strategic investments.” In the fiscal third quarter ending Oct. 31, 2025, the company posted a net gain of $406.1 million from these investments, according to an SEC filing. However, Zoom does not provide a breakdown of gains by individual holdings. (SEC)
Management is pushing AI deeper into the core platform. Back in November, CEO Eric Yuan highlighted “strong momentum with Custom AI Companion” as Zoom raised its full-year forecast, citing growing demand for AI tools in hybrid work. (Reuters)
But this trade carries clear risks. Valuations for private companies can shift rapidly, fundraises might be pushed back or repriced, and an IPO isn’t a sure thing. Zoom hasn’t revealed how much of Anthropic it owns, and any profit hinges on the timing and method of cashing out.
Investors are zeroing in on two key updates: any new information on Anthropic’s funding and whether Zoom provides further clarity on its strategic investments and AI monetization in its upcoming report. Nasdaq’s earnings calendar projects Zoom’s report around Feb. 23. (Nasdaq)
