Anthropic is reportedly going ahead with its stock market listing even after a sharp sell-off in tech shares. The Wall Street Journal reported that the company plans to set a valuation range this week and to begin trading on the Thursday or Friday of next week, according to TechCrunch, which relayed the report without confirming it independently. This site is not affiliated with Anthropic, and Anthropic had not commented in the coverage reviewed.
The valuation question. TechCrunch says some institutional investors are pushing for a valuation below the $1.5 trillion target that was discussed as recently as last week. That target was already considerably below a $2 trillion figure floated a few months ago. Other coverage says investors have discussed $1.2 trillion to $1.3 trillion, with some buyers as low as $1.1 trillion, and notes that valuation talk is not a final IPO price.
The timeline. Other reports, citing CNBC, say the roadshow, the series of investor presentations ahead of a listing, would begin the week of November 9, the earliest window after Anthropic’s public S-1 filing of October 26. They say the company intends to list on Nasdaq under the ticker ANT, with a debut possibly before Thanksgiving. Accounts differ on the exact date, so the Wall Street Journal’s Thursday-or-Friday timing is the only specific date and is unconfirmed.
The comparison with OpenAI. TechCrunch notes that OpenAI was reportedly valued at $1.25 trillion last week after raising $11 billion, which was short of the $20 billion it had sought, as covered earlier on this site. Together, the two cases suggest investors are pricing AI companies more cautiously than a few months ago.
The market backdrop. TechCrunch says a major IPO would seem risky after one of the Nasdaq’s biggest sell-offs, and mentions the fallout from reports about a leading AI chief executive’s ties to a suspected Chinese spy. The article does not connect that case to Anthropic.
What is not stated. TechCrunch’s brief does not give the exchange, the offering size, the share count or any statement from Anthropic. Analysts quoted in other coverage say the response of the US Securities and Exchange Commission to the company’s filings will be important for timing.
Why it matters. An Anthropic listing would be one of the largest technology IPOs on record and the first for a leading AI model developer. How it is priced will affect how investors value OpenAI and other AI companies and how easily they can raise money. For retail investors in the US and UK, a listing would also be the first chance to buy shares in such a company, though prices could be volatile.
What to watch. Look for the price range, the roadshow reception, the first trading day, and any change to the schedule if markets fall further.
Sources: TechCrunch, citing the Wall Street Journal, with CNBC and Bloomberg timing as relayed in other coverage. Details are as reported and unconfirmed by Anthropic. This is not investment advice.
Salesforce Tower, San Francisco (representative image), Wikimedia Commons, CC BY 2.0
