Conditions surrounding Anthropic and OpenAI appear less turbulent today, following yesterday’s shock linked to the founders’ comments on the risks of artificial intelligence. This can be seen on Hyperliquid, where synthetic perpetual contracts are traded that price the implied valuations of the two unlisted companies. Both markets are rebounding today, although with differing strength and an increasingly clear hierarchy.
Anthropic and OpenAI regain their composure on Hyperliquid
On Friday, Anthropic CEO Dario Amodei published an appeal to slow the development of artificial intelligence, pointing to concrete risks over the next 6 and 12 months. A few hours later, OpenAI CEO Sam Altman raised the stakes, saying he was willing to shut down his GPUs and postponing the listing until 2027. Yesterday, the perpetual markets reacted immediately and negatively, with declines of nearly 5% for Anthropic and more than 10% for OpenAI. This can all be assessed on Hyperliquid, where synthetic contracts pricing the implied valuations of the two companies are traded. OpenAI and Anthropic are not yet listed, so these contracts are the only publicly available instrument for investing in their valuations.
Anthropic holds up because its IPO appears close
The contract on Anthropic (ANTHUSDC) is currently trading at 2.151 USDC and has already recovered almost all of its decline. It is marginally up 0.52% today, as can be seen on the attached 1H chart for Hyperliquid. Yesterday, it closed up 1.85% after touching a low of 2,046.7 USDC, from which ANTH’s rebound began. Today, the price movement is stalling at the first resistance level, at 2.167 USDC, marked by the 38.2% Fibonacci retracement of the move from the high at 2.359 USDC to the recent low.
The market is pricing in the IPO (Initial Public Offering), expected within a few weeks. On June 1, the company filed confidential documentation with the SEC, with a Nasdaq listing targeted for October; according to Reuters, the public prospectus will arrive at the end of September. The latest private valuation is $965 billion, with expected fundraising that would make it one of the largest listings in history. Revenue is growing at a rapid pace, and the company has reported significantly improving gross margins—figures that the market is currently rewarding with an implied valuation of around $2.15 trillion. However, doubts remain over how much longer the AI trade can hold up, as do the new risks raised by the prospect of AI evolving without rules.
OpenAI remains weaker today as well
The OpenAI contract is trading at 1.533 USDC today and is rebounding 2.50% after yesterday’s 4.60% decline, but the recovery remains partial. The price is still 7 percentage points below the levels preceding Friday’s statements. The attached chart shows that it is now stalling at the first vector resistance level at 1.550 USDC. The main resistance, meanwhile, is at 2.210 USDC.
OpenAI’s difference from Anthropic lies entirely in the timeline, because its CEO, Sam Altman, has postponed the listing until 2027. This also weakens interest in the synthetic contract on Hyperliquid. Without a date, even an indicative one, the token’s price in the RWA environment remains dependent solely on the narrative while awaiting dates that are more or less certain.
