Anthropic Token Trades Above $2 Trillion as AI Arms Race Heats Up

Anthropic's tokenized trading has sent shockwaves through the market, with its perpetual futures contract briefly climbing above $2 trillion on Hyperliquid. This sudden surge in value is a stark contrast to its last official funding round, which valued the private AI startup at $965 billion. The thin trade turnover of around $20 million on Hyperliquid cannot be ignored, as it highlights the speculative nature of this market.

The gap between the tokenized price and the company's actual valuation is a significant one. This discrepancy suggests that some traders are willing to bet big on Anthropic's growth potential, despite its lack of public-market evidence. However, this also raises concerns about the accuracy of these tokenized markets, which can drift far from formal financing terms.

Anthropic has already warned investors about unauthorized share transfers, emphasizing the importance of adhering to transfer restrictions. This warning is particularly relevant given the surge in tokenized trading activity, with some traders pricing the company as a future category leader worth nearly $2 trillion.

The AI arms race is driving this speculative fervor, with companies like OpenAI and Anthropic at its center. However, the debate surrounding private AI leaders' valuations continues to simmer, with concerns about their ability to maintain extreme values in the face of growing competition from Chinese firms.