Anthropic picks Nasdaq for potential IPO, report says; October listing in focus

Anthropic has chosen Nasdaq as the exchange for its potential stock market debut, according to a report by Business Insider, citing a person familiar with the company’s plans.

Anthropic IPO: October listing reportedly in focus

The AI startup is reportedly working towards an October listing, although the timing and other details of the potential IPO have not been finalised, Business Insider reported.

The reported decision would give Nasdaq another major technology win after SpaceX chose the exchange for its much-anticipated public offering earlier this year. SpaceX was valued at around $1.75 trillion, while Anthropic’s potential valuation has been estimated at as much as $2 trillion, although the company’s eventual IPO valuation remains uncertain.

The prospect of mega-sized technology listings has increased the competition between Nasdaq and the New York Stock Exchange (NYSE).

The two exchanges are also looking to position themselves as the preferred home for a new generation of AI companies, following several years of relatively weak activity in the technology IPO market.

AI safety debate adds another layer

Anthropic’s reported IPO plans also come amid growing debate over the risks associated with advanced AI. OpenAI chief executive Sam Altman recently said his company was not looking to go public at present, as concerns over the technology’s potential risks continue to attract attention.

The issue was thrust back into the spotlight after a former Anthropic employee recently warned about the possibility of catastrophic consequences from increasingly advanced AI systems, including a more than 10% risk of human extinction.

Anthropic has yet to publicly confirm the Nasdaq selection or an October listing date.

Nvidia in talks to invest in Anthropic’s mega IPO

Anthropic is in talks with Nvidia over a potential investment of up to $10 billion in its planned IPO, which could become the largest stock market listing in history, Reuters reported, citing two people familiar with the matter.

The AI startup is seeking to raise as much as $100 billion at a valuation of around $2 trillion, according to the sources. Nvidia’s potential investment would make it a major anchor investor, although the discussions are still ongoing and the terms could change.

Nvidia’s possible participation would also deepen its ties with Anthropic, one of its major customers. A high-profile backer could help boost investor confidence as Anthropic tests public-market appetite for the huge valuations and funding needs of leading AI companies.