Anthropic sets sights on Nasdaq for potential October IPO, eyes $2 trillion valuation: Report

Artificial intelligence startup Anthropic has selected Nasdaq as its listing venue for a potential initial public offering, positioning the developer of the Claude model family for a high-profile stock market debut targeted for October, according to a report by Business Insider.

Anthropic has not publicly confirmed the exchange selection or a finalised timetable.

While details surrounding Anthropic’s potential debut remain fluid and the confidential filing has not been finalised, reports indicate the company could seek a valuation reaching as much as $2 trillion.

The choice of exchange marks a major victory for Nasdaq in its ongoing battle with the New York Stock Exchange (NYSE) to capture flagship technology listings. The decision follows another marquee win for Nasdaq earlier this year, when SpaceX chose the venue for its public offering.

Anthropic’s push toward public markets arrives at a pivot point for the generative AI sector. The company, founded by former OpenAI executives Dario and Daniela Amodei, has seen rapid enterprise adoption, driven by strong demand for its Claude models.

However, the move toward an October listing also exposes the lab to intense public market scrutiny regarding the massive capital commitments and steep losses required to build frontier models.

The timing also highlights diverging approaches within the artificial intelligence industry. While Anthropic proceeds with preparations ahead of the US midterm elections, rival OpenAI recently indicated it would defer a public listing in 2026 to maintain its focus on safety protocols and technology development.

OpenAI will not go public in 2026 as mounting safety concerns surrounding artificial intelligence force the company to reevaluate its timeline, CEO Sam Altman said in a Fortune interview.

"I actually think that, given everything happening with safety, right now would be an ill-advised moment to go public, and we don't feel pressure on that," Altman told Fortune, effectively putting an end to speculation about a near-term public market debut for the ChatGPT developer.

The decision comes amid heightened scrutiny from US lawmakers following severe warnings from AI researchers, including two former scientists from OpenAI rival Anthropic, who warned that rapidly advancing artificial intelligence could pose catastrophic existential risks to humanity.