Anthropic pre-IPO futures fall 7 percent on $69.3bn valuation report
Traders sold the $ANT perpetual contract on Hyperliquid after reports indicated the artificial intelligence firm targets an IPO price between $70 and $80 per share.
Key takeaways
- 1Anthropic is reportedly seeking an IPO valuation of up to $69.3bn at $70 to $80 per share.
- 2The $ANT perpetual contract on Hyperliquid fell 7 per cent following the report.
Anthropic pre-IPO perpetual futures fell 7 per cent on Tuesday following reports that the artificial intelligence firm is seeking a valuation of up to $69.3bn in its initial public offering. The $ANT contract on the Hyperliquid exchange dropped sharply as traders reacted to the proposed pricing of $70 to $80 per share for the upcoming listing. The move followed a report on 10 November detailing the firm's fundraising ambitions.
The sell-off occurred as the reported figures provided a concrete valuation framework for a company that has until now been traded primarily in private markets and through speculative derivative products. These figures suggest a specific cap on the firm's expected market value, prompting a price correction in the perpetual futures market. The $ANT ticker on decentralised platforms serves as a proxy for the company's perceived value ahead of its debut on traditional stock exchanges.
Anthropic is a major artificial intelligence developer and the creator of the Claude chatbot, positioning it as a primary competitor to OpenAI. Trading in its pre-IPO valuation moved into the crypto sector on 2 November when Polymarket launched 24/7 perpetual futures for the firm. These contracts offer traders up to 10x margin positions on the private company's valuation, allowing for high-leverage bets on the success of the AI sector.
The price move suggests that some crypto market participants viewed the reported IPO valuation as lower than previous speculative expectations. Traders will now watch for official regulatory filings from Anthropic to confirm the share price range and the total amount of capital the firm intends to raise. The volatility in the $ANT contract illustrates how pre-IPO crypto derivatives react to news from traditional finance and the broader technology sector.
Reported and edited by the YourKhabri desk under our editorial policy. Nothing here is investment advice.