Anthropic tokens imply $850B valuation on Jupiter

Tokenised shares of Anthropic trading on Jupiter now imply a valuation of around $851 billion, far exceeding its last private funding round.

The synthetic tokens have surged more than 640% since October 2025, rising from about $122 to roughly $900 per share as investors position ahead of a potential IPO.

The implied valuation is more than double Anthropic’s $380 billion post-money valuation from its February 2026 Series G funding round.

These tokenised instruments provide price exposure through SPV-backed structures but do not grant ownership rights, voting power or dividends.

Similar pricing has emerged on traditional secondary markets, with platforms like Hiive showing comparable valuations, reinforcing strong investor demand.

Anthropic is reportedly targeting a public listing in late 2026 that could raise over $60 billion, with major banks including Goldman Sachs and JPMorgan Chase involved.

The development comes amid a broader wave of anticipated AI IPOs, with companies like SpaceX and OpenAI also expected to enter public markets at trillion-dollar valuations.