Pre-IPO access to OpenAI and Anthropic: what investors can do now
Anthropic is targeting a Nasdaq roadshow in mid-October, according to Reuters, while OpenAI has pushed its listing to 2027, Sam Altman has said. Neither company’s shares are available yet, but OKX has offered pre-IPO X-Perps tied to OpenAI and Anthropic since September 10 for eligible EEA residents who pass a suitability test, with leverage up to 10x. These instruments are derivatives that do not deliver stock, can lose capital quickly, and depend on an IPO that may be delayed or canceled.
Anthropic filed a confidential S-1 on June 1 and a draft prospectus surfaced via Reuters and FT by late September. It reportedly targets a Nasdaq roadshow no earlier than mid-October, with a valuation discussed near $2 trillion. OpenAI filed its own confidential S-1 on June 8, but Sam Altman indicated no 2026 listing; Bloomberg reported a $30 billion-plus raise at a $1.4 trillion pre-money valuation.
OKX's pre-IPO X-Perps, OPENAIUSD and ANTHROPICUSD, launched September 10 for EEA residents who pass suitability checks. They offer leverage up to 10x but deliver no shares. Private secondary markets remain limited to qualified investors with large minimums and issuer approval.
If these derivatives attract retail interest, they may blur the line between betting on private AI valuations and owning equity. EEA traders could gain earlier exposure, but leverage and uncertain listings may cause rapid losses. Broader markets could see more speculation around AI leaders, potentially influencing how the public perceives tech valuations and corporate transparency.