Markets in motion.

Dashed = estimated proxy. Solid = Hyperliquid trades. Before each contract’s first trading day, the chart uses external data scaled to that contract’s first daily opening price. Current mark prices and 24h volume always use Hyperliquid. Card percentage changes follow the selected period and include estimated history where marked.

OpenAI & Anthropic: reported company valuations are held flat until the next dated milestone. These are rough company-value proxies, not historical share prices. Funding dilution, share classes and daily private-market price movements are not modeled. No synthetic trading volume or OHLC candles are created.

The 5Y view reaches October 2021. OpenAI’s $14B baseline is reported only as “2021”; its exact date is unknown and the value is applied retrospectively to that year. Anthropic’s 2021–2024 inputs use a reported valuation compilation; early estimates differ across providers and are not company-confirmed. Long flat sections mean no new milestone in this dataset.

S&P 500: Yahoo Finance’s ^GSPC daily cash-index closes provide the earlier shape; the last close carries across weekends and holidays. This segment is scaled, so plotted levels are approximate contract-equivalent quotes, not the raw cash index.

Estimated quote = source value × first Hyperliquid daily open ÷ last source value before listing.

The scaling is retrospective and fixed at the source transition. Comparison percentages that include dashed segments are illustrative changes in the combined proxy series, not investable returns. Hover a dashed point for its original value and observation date.