ThinkMarkets Launches Pre-IPO Trading for AI Leaders
Traders can now speculate on the future market capitalization of Anthropic and OpenAI through new CFD instruments.
Updated on Oct. 28, 2026 in Artificial Intelligence
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ThinkMarkets has introduced pre-IPO contract for difference (CFD) markets that allow traders to take positions on the projected market valuations of Anthropic and OpenAI. These instruments track expected market capitalization at the close of the first trading day, with one point representing US$1 billion.
Why it matters
The platform provides a mechanism for investors to react to company news and express market sentiment regarding these major AI firms outside of traditional trading hours. It offers a way to speculate on company value without the actual purchase of company shares.
The new CFD instruments track expected market capitalization at the close of a company's first public trading day, where one point is equivalent to US$1 billion. ThinkMarkets currently offers a total of 4,000 different CFD instruments to its clients.
The players
ThinkMarkets
ThinkMarkets is a multi-asset brokerage firm that provides trading services for financial instruments including CFDs and forex.
Anthropic
Anthropic is an AI safety and research company that develops large language models.
OpenAI
OpenAI is an artificial intelligence research organization known for developing the ChatGPT series.
The details
Positions on the platform are settled against the actual market capitalization at the close of the first trading day rather than converting into actual company shares. While Anthropic is reportedly preparing for a potential U.S. listing as early as November 2026, OpenAI has explicitly stated it will not go public during that year.
Timeline
October 28, 2026: ThinkMarkets officially launched the pre-IPO markets.
November 2026: Anthropic is expected to begin preparing for a potential U.S. listing.
The Tech Race
The expansion of pre-IPO derivative trading markets marks a departure from traditional exchange-based equity investing by enabling speculation on valuations before official listings occur. This positions brokerage platforms as intermediaries in the broader arms race for AI market influence.
Traders can now respond to company news and express views on AI firm valuations 24 hours a day, seven days a week. Users should be aware that these positions do not convert into actual equity and are strictly settled based on the valuation at the close of the first trading day.
The takeaway
Speculating on pre-IPO valuations involves significant risk since outcomes are tied to market sentiment at the time of a future listing. Investors should thoroughly research the specific settlement terms for these derivative instruments before placing trades.
Further reading
Learn more about the evolving landscape of Artificial Intelligence.
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