Key points
- Anthropic picks Nasdaq for its listing
- Marketing starts mid-October at the earliest
- The listing would land days before the midterms
- Nasdaq would host the year's two largest IPOs
Anthropic has selected Nasdaq for its planned stock market listing, Business Insider reported on Sunday, citing one person familiar with the plans. Neither Anthropic nor Nasdaq has publicly confirmed the choice.
The company is still working toward an October debut. It expects to begin marketing the deal in mid-October at the earliest and to complete the listing days before the November midterm elections, Reuters reported on September 4, citing people familiar with the process.
The timetable
Anthropic's registration statement is not expected to become public until late September, having earlier been expected sooner, the people told Reuters. The company is working to finalize a $15 billion revolving credit facility first, and analyst meetings follow that. Morgan Stanley, Goldman Sachs, JPMorgan and Citi are among the banks on the deal, and Reuters says the timing can still move.
Investors have discussed a listing that values Anthropic near $2 trillion, which would make it one of the largest IPOs ever attempted. That is more than double the $965 billion valuation Anthropic set in May, and the raise under discussion, as much as $100 billion, would top the $86.2 billion record set by SpaceX (SPCX) in June. Nvidia (NVDA) is separately in talks to anchor the offering with as much as $10 billion, Reuters reported on Friday.
Nasdaq would host the year's two largest IPOs by proceeds, if Anthropic raises the reported $100 billion. SpaceX went public on Nasdaq on June 12 in the largest IPO on record, and joined the Nasdaq-100 fifteen trading days later under the exchange's fast-entry rule. The New York Stock Exchange has historically taken the largest listings.
OpenAI has delayed its own listing
Anthropic chief executive Dario Amodei published an essay on September 12 asking frontier AI labs to slow the rate at which models gain capability, and committed Anthropic to hosting outside evaluators with the right to publish what they find.
Two days before the Nasdaq report, OpenAI chief executive Sam Altman ruled out a 2026 listing for his own company, and gave the safety debate as the reason. He called the present "an ill-advised moment to go public."
