New Constructs Slams Anthropic's $2T IPO Valuation Ahead of Listing
- —New Constructs estimates Anthropic's fair value at about $150 billion versus the reported $2 trillion
- —Anthropic's 2025 revenue grew roughly twelvefold to nearly $4.6 billion
- —Operating loss widened to $8.06 billion, while net loss hit $42 billion
- —Two customers accounted for a quarter of 2025 revenue; Amazon and Google are investors
Why it matters: The debate highlights how crypto venues let traders bet on private-company valuations through pre-IPO perpetuals before any listing.
Source: The Crypto Times