Anthropic Files for IPO as Crypto Markets Imply $1.9 Trillion Valuation

Anthropic filed a Form S-1 for a proposed initial public offering Monday, while crypto-linked market indicators pointed to a potential value near $1.9 trillion even as the company left its offering terms open.

The proposed Nasdaq Global Select Market listing would use ANT as the ticker for Anthropic’s Class A common stock. Anthropic has not set the number of shares to be offered or the price range, and its registration statement has not become effective.

A pre-IPO perpetual contract tied to Anthropic displayed $1,894.49 at 3:50 p.m. ET Monday (19:50 UTC). Applying a provisional estimate of 1 billion shares to that price implies about $1.89 trillion. The contract is a derivative, not Anthropic stock, and the estimate may differ from the company’s actual share count.

At 1 p.m. ET Monday (17:00 UTC), a prediction market assigned 32% odds to a first-day closing market capitalization between $1.75 trillion and $2 trillion, and 23.8% to a value from $2 trillion to $2.25 trillion. The market had recorded $2.49 million in volume.

Anthropic’s May Series H financing raised $65 billion at a $965 billion post-money valuation.