OpenAI, Anthropic lose $270B in implied value amid AI safety fears

More than $270 billion in implied valuation has evaporated from OpenAI and Anthropic over the weekend, as synthetic contracts tied to the two AI giants plunged on decentralized trading platforms amid growing alarm about the existential risks of artificial intelligence.ilsole24ore

The sell-off, reported by Italian financial newspaper Il Sole 24 Ore, took place on Hyperliquid, a decentralized exchange where traders buy and sell contracts pegged to the estimated future value of major private companies. OpenAI's contract dropped roughly 11%, pulling its implied valuation down to around $1.465 trillion, while Anthropic fell about 4%, sliding just above $2.07 trillion. Together, the two companies still carry a combined implied valuation exceeding $3.5 trillion — a figure rivaling the market capitalization of the world's largest publicly traded companies.ilsole24ore

A Week of Dire Warnings

The declines coincide with a wave of public warnings from inside the AI industry. Jacob Coxon, a former pre-training researcher who worked at both OpenAI and Anthropic, resigned from Anthropic on September 9 and published a viral post on X declaring that neither company "is acting responsibly". Coxon warned that competitive pressures are pushing developers toward self-improving superintelligence with inadequate safety guardrails. His posts reached more than 100 million people, according to the Associated Press.nypost+1

In television interviews with NBC News, CNN, and Fox News, Coxon said there is "a substantial probability that this technology could kill everyone," while stressing that current AI systems pose "no risk of extinction". Anthropic alignment researcher Evan Hubinger separately said he sees a greater than 10% chance that AI causes human extinction within a decade.benzinga+1

OpenAI Delays IPO, Citing Safety

The turmoil extends beyond speculative markets. OpenAI CEO Sam Altman told Fortune in an interview published Saturday that the company will not go public in 2026, directly citing the safety climate. "Given everything happening with safety, right now would be an ill-advised moment to go public," Altman said. The company had previously been targeting a valuation north of $1 trillion for a potential September debut.getsmartmoneyai+1

Anthropic's own IPO plans appear unaffected so far. The company filed for an IPO in June at an implied valuation of $965 billion, and investors were reportedly targeting a valuation near $2 trillion for a listing expected as soon as October.taylorvilledailynews+2

Speculative Markets, Real Anxiety

The Hyperliquid contracts are not traditional equity and carry no claim on actual company shares. But the sharp weekend moves underscore how deeply the safety debate has penetrated investor sentiment, even as both companies continue to post rapid revenue growth. The sell-off followed a week in which former White House AI adviser David Sacks accused Coxon of orchestrating a "publicity campaign," while Nvidia ↗ 2.78% CEO Jensen Huang dismissed Coxon's warnings as "outlandish and deeply untrue" during a Goldman Sachs The Goldman Sachs Group, Inc. ↘ 0.36% technology conference.benzinga