BREAKING: Anthropic's pre-IPO valuation has officially hit a record $1 trillion. Anthropic's implied valuation is now up +733% since October 2025, per onchain pre-IPO trading data. Pre-IPO instruments trading onchain, backed 1:1 by SPV exposure on Jupiter, are providing a real-time proxy for the company’s implied IPO valuation. Anthropic has now become the third company to exceed $1 trillion in implied valuation, joining OpenAI and SpaceX. The implied market cap of these 3 companies alone is now up to $3.7 TRILLION. We are about to witness a historic IPO run.(The Kobeissi Letter)