ThinkMarkets launches 24/7 pre-IPO markets on Anthropic and OpenAI

What happened

ThinkMarkets launched 24/7 pre-IPO markets on Anthropic and OpenAI, letting traders go long or short on each company's expected value at the end of its first trading day. Anthropic was last privately valued at US$965 billion and OpenAI at US$852 billion.

Confirmed

Global impact / market context

These markets let traders bet on hot private AI companies before shares trade publicly, which means price discovery moves earlier and retail investors get exposure previously limited to private backers. It also lets news like filing updates move positions overnight and on weekends.

Analyst inference

Anthropic is reported to be preparing a US listing as early as November, while OpenAI said it will not go public this year. Offering round-the-clock trading on both shows demand for exposure to anticipated AI listings, even before formal exchange trading begins.

Analyst inference

What to watch

1. Anthropic is reported to be preparing for a US listing as early as November, so filing announcements and roadshow updates could shift pre-IPO prices quickly, including overnight and on weekends. Confirmed
2. Because both instruments are CFDs, which means contracts that track an underlying value without owning it, traders face counterparty and financing risks that may widen spreads and raise costs. Analyst inference
3. The first-day closing value will settle these contracts, so valuation reports and final offer pricing near listing could cause sharp repricing and force traders to adjust long or short positions. Analyst inference

Evidence

• financewire.com