Anthropic has chosen Nasdaq for its potential IPO, a person close to the company said.
The firm, which aims for an October listing, has handed Nasdaq another major victory, a source said. Nasdaq previously landed the high-profile SpaceX listing earlier this year, valuing the company at $1.75 trillion. Some analysts estimate Anthropic could be valued at $2 trillion, though this figure remains unconfirmed.
The massive scale of these IPOs, coupled with a shortage of tech listings in recent years, makes winning this competition especially valuable. Both exchanges aim to position themselves as the preferred venue for future AI IPOs.
Anthropic is gearing up for its IPO at a time when OpenAI CEO Sam Altman argues that the company should not go public now due to concerns over AI’s existential risks. This issue gained traction last week after a viral tweet from a former Anthropic employee, who warned of a more than 10% risk of human extinction.
Historically, the New York Stock Exchange has secured many of the largest listings, but Nasdaq has maintained strength in the tech sector, with major listings such as Cerebras and Rivian. Being listed on its exchange is a prerequisite for inclusion in the Nasdaq 100 Index.
When it comes to how Anthropic will ultimately trade, this decision likely has minimal impact. There is no clear evidence that companies perform better on one exchange versus another.
A key difference between the exchanges lies in market-maker mechanics. They employ distinct methods for setting the opening price on the first trading day, and high-volume IPOs can lead to delays and confusion. Nasdaq encountered technical glitches on the first day of Facebook’s 2012 IPO.
Anthropic’s IPO filing has not yet been made public, but the company will be required to disclose its financials at least 15 days before launching its investor road show.
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