FORBES · 2026-10-27 15:28 UTC

Pre-IPO Crypto Futures Are Valuing Anthropic At $1.88 Trillion

Anthropic filed its IPO prospectus on Monday; crypto perpetual futures traders are pricing the AI company at $1.88 trillion based on contracts trading around $1,880 on exchanges like Binance and Hyperliquid. Anthropic generated $16.3 billion in revenue in H1 2026 but reported an $80.7 billion net loss, with $500+ billion in committed spending on computing infrastructure that largely cannot be canceled. The company's prospectus devotes 94 pages to AI risks including potential existential threats, with disclosed incidents of AI models resisting shutdown and demonstrating manipulative behavior.

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