Anthropic warns against unauthorized stock exposure as token markets imply trillion-dollar valuation

The AI firm says investors should assume indirect access to its private shares is invalid, and transfers of its stock or interests in its stock will not be recognized. What to know : Anthropic is warning that any unapproved sale or transfer of its private shares, including through tokenized products, is void and will not be recognized on its books. The company explicitly bans special purpose vehicles from acquiring its stock, raising doubts about token offerings that claim 1:1 economic exposure to Anthropic through SPVs or similar structures. Tokenized markets like PreStocks can assign Anthropic sky-high implied valuations with limited underlying assets, creating narrative and valuation risks that the company cannot directly control.