OpenAI Valuation Falls Below $1.5tn as CoreWeave Sell-Off Widens Gap With Anthropic

OpenAI and Anthropic are moving in opposite directions in cryptocurrency-linked private-market contracts as mounting concerns over AI infrastructure financing weigh on CoreWeave, highlighting how investor sentiment is increasingly differentiating between the two leading artificial intelligence developers. OpenAI’s implied valuation fell more than 4% over 24 hours, briefly slipping below $1.5 trillion, according to perpetual futures prices on decentralized exchange Hyperliquid. Anthropic’s contracts, by contrast, rose 2.4% over the same period, recovering from an overnight decline and indicating a valuation of slightly more than $2 trillion. The gap appears as CoreWeave, a major provider of computing infrastructure for AI developers, faces renewed scrutiny over its debt-financing strategy. Its shares touched a new one-year low on Thursday, extending their decline over that period to 54%.