Anthropic perps drop 7% after public listing filing

Pre-IPO perpetual futures tracking Anthropic slid about 7% in 24 hours, days after the AI company filed its S-1 with the SEC Anthropic finally put its paperwork where its valuation is. The AI company filed an S-1 registration statement with the SEC on October 26, 2026, formally starting its path to a public listing. Traders betting on that listing celebrated by selling. Anthropic perpetual futures fell about 7% in 24 hours, days after the filing landed. What the filing shows, and what traders did with it Anthropic’s profile has a striking headline number. The company reported first-half revenue of $16.3 billion. It also reported a net loss of $80.7 billion. That loss stems primarily from accounting adjustments on convertible notes, not from the day-to-day cost of running the business. Convertible notes are loans that can turn into equity later. When a company’s value rises sharply, the accounting treatment of those notes can produce enormous paper losses, even if no cash leaves the building. The filing positions Anthropic for a potential Nasdaq listing under the ticker ANT. That listing could come as early as mid-November 2026, though nothing is locked in until shares actually pric...