OpenAI and Anthropic stock CFDs, OPENAIUSD and ANTHUSD, have been tradable on Vantage since 29 June 2026. They reference prices derived from private market valuation data and other inputs under Vantage’s pricing methodology, and are listed within the platform’s Crypto Currency category for platform categorisation purposes only rather than under Share CFDs.

Most ways to invest directly in private company shares before an IPO require accredited investor status. OPENAIUSD and ANTHUSD are structured differently: they are CFDs referencing prices derived from private valuation data rather than purchases of the underlying shares, and therefore do not involve acquiring an ownership interest in those companies. That distinction matters, and so does what it does not mean.

Before anything else: these are derivative contracts on a private valuation, not a way to own shares in either company. Trading OPENAIUSD or ANTHUSD does not create equity, voting rights, or any ownership claim in OpenAI or Anthropic. Neither company is affiliated with, endorses, or has any involvement in these instruments.

Important: OPENAIUSD and ANTHUSD are leveraged CFD products referencing prices derived from private valuation data. They are speculative instruments and may not be suitable for all investors.

This piece explains how OPENAIUSD and ANTHUSD are structured, how their prices are determined, what happens around a potential IPO, and answers frequently asked questions. Product details below are current as of 06 July 2026 (GMT+8) and are drawn from Vantage’s own product documentation, since these are proprietary instruments rather than publicly traded securities.

See all latest stock market news here.

Key Points

• OPENAIUSD and ANTHUSD have been tradable on Vantage since 29 June 2026. They are CFDs that reference prices derived from private market valuation data relating to OpenAI and Anthropic under Vantage’s pricing methodology. They are listed under Vantage’s Crypto Currency category for platform categorisation purposes only, have no contractual expiry date, and positions held overnight are subject to overnight financing (holding) charges.
• These contracts carry no ownership, equity, or voting rights in either company. Prices are determined under Vantage’s pricing methodology using private market valuation data and information from third-party data providers tracking pre-IPO share transactions, rather than from a public exchange.
• If either company completes an IPO, Vantage may, in accordance with the applicable Product Terms, close positions at a reference price, delist the contract, or transition it to a standard equity CFD. Advance notice will be provided where applicable.

Background: where OpenAI and Anthropic’s IPOs stand

Both companies referenced by these instruments are, as of the current date, partway through their own move toward public markets, which is useful context for anyone trading either instrument.

Anthropic confidentially filed a draft registration statement with the U.S. Securities and Exchange Commission on 1 June 2026, becoming the first major AI lab to formally begin the IPO process.^² The filing followed a $65 billion Series H funding round in late May 2026 that valued the company at approximately $965 billion, at the time overtaking OpenAI’s private valuation for the first time.^³ Multiple reports have pointed to a target listing window around October 2026 on Nasdaq, though Anthropic has stated only that any offering will depend on market conditions and the outcome of SEC review, with no share price, share count, or date confirmed.

OpenAI submitted its own confidential filing days after Anthropic, having previously raised $122 billion in a March 2026 funding round that valued the company at approximately $852 billion.^⁴ Earlier reporting had pointed to a fourth-quarter 2026 listing target. By late June 2026, however, reports indicated OpenAI was leaning toward pushing its public debut into 2027, following a volatile public debut for SpaceX and a broader slump in tech share prices.^⁵

Neither company has confirmed a final listing date, share price, or valuation at listing, and both have said any offering remains contingent on market conditions and regulatory review. This is the backdrop against which OPENAIUSD and ANTHUSD’s private-market pricing currently sits, and it is also why both contracts include the IPO settlement provisions covered further down.

What are OPENAIUSD and ANTHUSD?

OPENAIUSD and ANTHUSD are Contracts for Difference (CFDs)^⁶ that reference prices derived from private market valuation data relating to OpenAI and Anthropic respectively. A CFD is an agreement to exchange the difference in an instrument’s value between when a position opens and when it closes; it does not involve owning the underlying asset itself.

These contracts have no contractual expiry date. Positions may remain open subject to applicable margin requirements, overnight financing (holding) charges, and any product changes described in the applicable Product Terms. That is a meaningful difference from a standard share CFD, where corporate actions and listing status are usually more predictable.

Both instruments are listed under Vantage’s Crypto Currency category for platform categorisation purposes only. They are not cryptocurrency CFDs. If you are searching for OPENAIUSD or ANTHUSD in the platform, that is the group to check first.

Check out the latest market news today here.

How pricing and trading specifications work

Prices for OPENAIUSD and ANTHUSD are determined under Vantage’s pricing methodology using private market valuation data and information from third-party data providers tracking pre-IPO share transactions. That distinction matters for how these instruments behave day to day, and it is covered in more detail further down.

Specification	OPENAIUSD	ANTHUSD
Contract size	1 contract = 1 unit of underlying value	1 contract = 1 unit of underlying value
Minimum / maximum trade size	0.01 to 1,000 lots, in 0.01 increments	0.01 to 1,000 lots, in 0.01 increments
Price display	2 decimal places (e.g. 1651.54)	2 decimal places
Trading hours	24 hours a day, 7 days a week	24 hours a day, 7 days a week

Table 1: OPENAIUSD and ANTHUSD trading specifications, sourced from Vantage Markets product documentation. Accessed on 06 July 2026.

The minimum and maximum trade sizes are the same as those used across other Vantage instruments, giving flexible position sizing whether a trader wants a small exploratory position or a larger one.

Ownership, equity, and what this product is not

This is worth restating plainly. Trading OPENAIUSD or ANTHUSD is not the same as buying actual shares in OpenAI or Anthropic. These are CFD derivatives. There is no ownership, no voting rights, and no claim to equity in either company that comes from holding a position.

OPENAIUSD and ANTHUSD are Vantage-listed CFD instruments referencing prices derived from private market valuation data relating to OpenAI and Anthropic. They are not issued, endorsed, or affiliated with either company, or with any of their affiliates.

What this product actually offers

Access to a private company’s valuation before it lists publicly is normally reserved for institutional investors, venture funds, or accredited investors taking part in funding rounds directly. Unlike direct investments in private company shares, OPENAIUSD and ANTHUSD allow eligible clients to obtain CFD exposure to price movements derived from private valuation data without acquiring an ownership interest in the underlying companies.

That is the useful surface area, and it is worth being precise about where it ends. A private valuation is not the same as a continuously traded public price. It moves when new funding rounds, secondary transactions, or valuation updates from data providers occur, not in response to a public order book. Liquidity, volatility, and pricing behaviour will not necessarily resemble a listed share CFD, and there is no guarantee either company ever completes an IPO.

Read all of the top Nasdaq News today here.

Common questions traders search for

Can retail investors buy OpenAI or Anthropic stock directly?

Not through a standard brokerage account. Both companies are privately held, and most direct routes, including secondary marketplaces and SPVs, require accredited investor status. A CFD such as OPENAIUSD or ANTHUSD is structured differently because it does not involve purchasing or owning the underlying shares.

How is trading OPENAIUSD or ANTHUSD different from pre-IPO share platforms?

Platforms that sell actual pre-IPO shares or SPV interests are transferring an ownership stake, which is why they are generally restricted to accredited investors and subject to each company’s transfer approval process. OPENAIUSD and ANTHUSD do not transfer shares or ownership at all; they are CFDs that reference prices derived from private market valuation data, settled in cash based on price movement rather than a transfer of equity.

Sign up at Vantage Markets and start trading now!

What happens at IPO, or if there isn’t one

If OpenAI or Anthropic completes an IPO, Vantage may, in accordance with the applicable Product Terms, close all open positions at a reference price, delist the contract, or transition it into a standard equity CFD. Advance notice will be provided where applicable.

If neither company ever completes an IPO, the contracts remain tradable as they are today. Positions can continue to be held or traded subject to the applicable Product Terms. Prices will continue to be determined under Vantage’s pricing methodology using private market valuation data and other relevant inputs, and overnight financing (holding) charges will continue to apply to positions held overnight.

How to trade OPENAIUSD and ANTHUSD on Vantage Markets: step by step

1. Log in or open an account: Log in to an existing Vantage account, or complete registration and verification if opening a new one.
2. Find the instrument: Search for OPENAIUSD or ANTHUSD within the platform’s Crypto Currency category. Neither instrument is listed under Share CFDs.
3. Review the contract specifications: Check the contract size, minimum and maximum trade size, and price display before opening a position, since both instruments are structured differently to a standard equity CFD (see Table 1 above).
4. Choose a position size: Select a trade size between 0.01 and 1,000 lots, in increments of 0.01, based on the position size that fits your account.
5. Decide on position direction: Choose whether to open a long or short position according to your own view of the underlying valuation.
6. Set risk parameters: Many traders choose to add a Stop Loss at this stage to define an exit level in advance, given that pricing here is drawn from private valuation data rather than a continuous public order book.
7. Open the position: Confirm the trade to open the position. Overnight financing (holding) charges begin accruing from this point for as long as the position stays open.
8. Monitor and manage: Since these contracts have no contractual expiry date, review open positions periodically, particularly around any news involving a potential IPO for either company, since Vantage may close, delist, or transition affected contracts at that stage.
9. Close the position: Close the position at any time, 24 hours a day, seven days a week.

Full FAQ

What is OPENAIUSD / ANTHUSD?

OPENAIUSD and ANTHUSD are CFD contracts that reference prices derived from private market valuation data relating to OpenAI and Anthropic under Vantage’s pricing methodology. They are listed under the Crypto Currency category for platform categorisation purposes only and are not cryptocurrency CFDs.

Do these contracts expire?

No. These contracts have no contractual expiry date. Positions may remain open subject to applicable margin requirements, overnight financing charges, and any product changes described in the applicable Product Terms.

Is this the same as buying actual OpenAI or Anthropic shares?

No. These are CFD derivatives. There is no ownership, voting rights, or claim to actual equity in either company.

How is the price determined?

Prices are determined under Vantage’s pricing methodology using private market valuation data and information from third-party data providers tracking pre-IPO share transactions.

What is the contract size?

One contract equals one unit of the underlying value.

What is the minimum and maximum trade size?

The minimum trade size is 0.01 lots and the maximum is 1,000 lots, with increments of 0.01. This allows for flexible position sizing.

How are prices displayed?

Prices are quoted to two decimal places (e.g. 1651.54).

What are the trading hours?

Trading hours are 24 hours a day, 7 days a week.

What happens if the company goes public?

If OpenAI or Anthropic completes an IPO, Vantage may, in accordance with the applicable Product Terms, close all positions at a reference price, delist the contract, or transition it to a standard equity CFD. Advance notice will be provided where applicable.

What happens if the company doesn’t IPO?

The contract remains tradable. Positions can continue to be held or traded subject to the applicable Product Terms. Prices will continue to be determined under Vantage’s pricing methodology using private market valuation data and other relevant inputs, and overnight financing (holding) charges will continue to apply to positions held overnight.

Before you trade

Two things worth thinking through before opening a position in either instrument.

Because pricing is drawn from private market data rather than a continuous public order book, market participants often monitor these positions somewhat differently than a listed share CFD, watching for valuation updates rather than intraday order-book moves. Stop Loss tools remain available on both instruments for those who want a defined exit level.

Since positions held overnight are subject to overnight financing (holding) charges, position sizing relative to total account equity is worth reviewing before entry, particularly for a newly listed instrument with a different valuation mechanism to the rest of a trading account.

IMPORTANT RISK WARNING: This product is a high-risk derivative instrument. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Past performance is not indicative of future results.

PRODUCT-SPECIFIC RISK: Pre-IPO Products reference prices derived from private valuation data, which may be uncertain and less liquid than publicly traded markets. These instruments are speculative and may not reflect the actual value of the underlying company. Trading CFDs involves a high risk of loss and may not be suitable for all investors.

REGULATORY DISCLAIMER: This document is for informational purposes only and does not constitute financial advice, a recommendation, or an offer to trade. Please read the applicable Client Agreement, Product Terms, Risk Disclosure Notice and other legal documentation provided by the relevant Vantage entity before trading. Product availability may vary depending on your jurisdiction and the entity through which your account is maintained.

References

[1] “Invest In OpenAI Stock | Buy Pre-IPO Shares – EquityZen” https://equityzen.com/company/openai/ Accessed on 06 July 2026.

[2] “Anthropic confidentially files IPO prospectus with SEC, prepping Wall Street for landmark AI deal – CNBC” https://www.cnbc.com/2026/06/01/anthropic-ipo-s1-prospectus.html Accessed on 06 July 2026.

[3] “Anthropic confidentially files for IPO after raising $65 billion in a funding round at a $965 billion valuation – Fortune” https://fortune.com/2026/06/01/anthropic-confidentially-files-ipo-965-billion-valuation/ Accessed on 06 July 2026.

[4] “OpenAI IPO: Major AI companies will soon be put to the test – CNN Business” https://www.cnn.com/2026/06/09/tech/openai-ipo-anthropic-wall-street Accessed on 06 July 2026.

[5] “OpenAI Considers Delaying IPO To 2027 After SpaceX’s Rocky Debut, Report Says – Forbes” https://www.forbes.com/sites/aliciapark/2026/06/25/openai-considers-delaying-ipo-to-2027-after-spacexs-rocky-debut-report-says/ Accessed on 06 July 2026.

[6] “What Is a Contract for Differences (CFD)? – Investopedia” https://www.investopedia.com/terms/c/contractfordifferences.asp Accessed on 06 July 2026.