
AI-generated summary
Anthropic is preparing for an initial public offering this month. The company previously updated its S1 filing with a price range of $70-$78 per share.
News of Anthropic's historic initial public offering provided a wave of relief for tech investors. The response in the perpetual futures market might provide even more relief.
As Anthropic prepares to raise money in its initial public offering this month, traders in offshore markets are making large bets that there will be a big pop on the AI giant's debut.
Trying to guess an initial first day IPO reaction is nearly impossible, but a new and fast-growing corner of the markets might offer some clues.
Pre-IPO perpetuals, contracts that aim to track the price of private companies, trade on decentralized crypto exchanges like Hyperliquid, Coinbase, Binance and OKX to name a few. The current Hyperliquid Anthropic contract implies a stock price of $98 and its market cap at roughly $1.7 trillion, more than 30% higher than the $70-$78 range announced in the company's updated S1.

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Anthropic's S-1 filing reveals each of its seven co-founders plans to sell 3,378,378 shares in an IPO targeting a $1.4 trillion valuation at $70-$78 per share, netting roughly $250 million each at mid-range. Board members Reed Hastings and Christopher Liddell have indicated interest in buying shares. The founders will retain Class F supervoting stock, collectively controlling 51.1% of votes despite selling shares.