3 Overvalued Pre-IPO Futures to Watch as Global AI Selloff Wipes Out $1.3 Trillion From Stocks

The pre-IPO futures market is straining because of an ongoing sell-off in the global AI sector that has wiped out more $1.3 trilion from semi-conductor chip stocks. This sell-off is now raising concerns of whether some pre-IPO futures may be overvalued.

The three pre-IPO futures that are standing out in the midst of the ongoing AI bubble concerns are Anthropic (ANTHROPIC), OpenAI (OPENAI) and ChangXin Memory Technologies (CXMT).

Global AI Selloff Continues Amid “Bubble” Fears

A recent report by Reuters noted that semiconductor stocks have lost $1.3 trillion in their market value because of the declining prices of Intel, Micron and Samsung shares.

The drop coincides with speculation that AI stocks have topped out and investors are now selling to take profits. This comes after White House advisers warned that the AI bubble was “still inflating.”

A former fund manager at Fidelity, George Noble, has also warned that if the AI bubble bursts, the fallout could be 17 times worse than what occurred when dot-com bubble burst in 2000.

These concerns are not only affecting the pre-IPO futures for the stocks with exposure to AI and microchips but also listed companies like SpaceX, whose stock dropped below the IPO price of $135.

OPENAI Pre-IPO Futures Test New Lows

The OPENAI pre-IPO futures dropped to $1,208 today, July 17. This is the lowest price for this contract since June 10.

The CMF reading of -0.05 suggests that this drop is coming from an increase in selling pressure for this pre-IPO futures contract.

But the Stoch RSI reading of 10 suggests that sellers are near exhaustion and this could create room for it to recover.

Still, buyers might remain hesitant because of the bearish sentiment around AI stocks. Moreover, Apple is suing OpenAI and this adds to the bearish headwinds that might pull the stock down.

The recent launch of the Kimi K3 AI model that is being touted to outperform OpenAI’s GPT 5.6 model also supports why the OPENAI pre-IPO futures may be overvalued.

ANTHROPIC Pre-IPO Futures Tumble Despite IPO Progress

The ANTHROPIC pre-IPO futures may also drop because the bearish trend seen in the broader AI sector could pull the contract lower.

The four-hour chart for the contract shows that it dropped to $1,600 on July 17 amid concerns that the new Kimi K3 AI model from China would topple Claude.

The Williams %R reading of -57 confirms that bears have a good grip, and the price of this contract might keep dropping unless buyers return.

The AO bars that have turned negative also suggest that the momentum is favoring bears.

The selling pressure remains high despite a report by Bloomberg saying that Anthropic is meeting with investors ahead of the company’s IPO that will take place in October 2026.

CXMT Pre-IPO Futures Spark Overvalued Concerns Ahead of July 27 IPO

ChangXin Memory Technologies will go public on July 27, and Trade-xyz has already launched a pre-IPO futures for the stock on Hyperliquid.

The stock will list at the Shanghai Stock Exchange at an IPO price of 8.66 yuan. This is around $1.28.

But the pre-IPO futures for CXMT on Hyperliquid launched at a price of $6. The contract surged to $8.64 on July 15 before dropping to $6.91 at the time of writing.

The current price of $6.91 is still four times higher than the price at which the shares will debut in Shanghai suggesting the futures contract may be overvalued.

CXMT is also a semi-conductor chip company that is going public when semi-conductor chip stocks have erased $1.3 trillion per Reuters. This performance could weigh in the futures contract and affect the shares’ performance after the IPO.