Investment strategist Joe Terranova has identified Zoom Video Communications as a public-market avenue for gaining exposure to the surging value of private AI company Anthropic. Terranova, of Virtus Investment Partners, made the case on CNBC, suggesting investors look beyond direct investments in the fiercely competitive AI sector. His analysis centers on Zoom's existing financial stake in Anthropic, which provides an indirect link to the firm's fortunes.
The recommendation arrives amid intense investor fascination with generative AI leaders like Anthropic, a key rival to OpenAI. Most of these high-profile companies remain privately held, limiting access for public market participants. This creates a hunt for secondary plays—publicly traded firms with strategic partnerships or equity positions in the private AI pioneers.
Terranova's argument is not based on new financial disclosures from Zoom regarding the size or performance of its Anthropic investment. The precise valuation of the stake and its contribution to Zoom's overall financial picture remain unclear from public filings. The strategist's view appears rooted in the broader investment thesis surrounding AI's transformative potential and the scarcity of pure-play public options.
If the thesis gains traction, it could draw increased investor attention to Zoom's strategic investments beyond its core video conferencing business. However, tying Zoom's stock performance primarily to an undisclosed minority stake carries significant risk. The firm's own operational execution in a competitive market remains the dominant driver of its share price.
Ultimately, the call reflects a broader market trend of investors seeking creative pathways to capitalize on the private AI boom, often through the holdings of larger, established tech companies.