Anthropic has selected the Nasdaq for its potential IPO, according to a person familiar with their plans.<\/p>\n
The company, which has been targeting an October listing, has given Nasdaq another big win, according to a person familiar with the matter. Nasdaq secured the coveted SpaceX listing earlier this year.<\/a> SpaceX was valued at $1.75 trillion<\/a>, and some estimates have put Anthropic at $2 trillion, though that figure has not yet been finalized.<\/p>\n The record-setting size of these IPOs, combined with the dearth in tech listings<\/a> in recent years, has made winning this competition particularly valuable. Both hope to be seen as the home for future AI IPOs.<\/p>\n Anthropic is preparing to IPO at a time when OpenAI CEO Sam Altman says that it wouldn’t go public<\/a> right now amid the controversy surrounding existential threats from AI. That risk gained more attention<\/a> last week after a viral tweet from a former Anthropic employee,<\/a> warning of a greater than 10% human extinction risk.<\/p>\n Historically, the New York Stock Exchange has won many of the largest listings, but Nasdaq has remained strong in tech, with large listings including Cerebras and Rivian. Listings on its exchange a prerequisite for inclusion in the Nasdaq 100 Index.<\/p>\n In terms of how Anthropic ultimately trades, this decision likely matters little. There isn’t a definitive answer on whether companies perform better on one exchange versus another.<\/p>\n One key difference between the exchanges concerns market-maker mechanics. They have different processes for determining the opening price on the first day of trading, and high-volume IPOs can cause delays and confusion. Nasdaq experienced technical issues on the first day of Facebook’s 2012 IPO.<\/p>\n Anthropic’s IPO filing has not yet been made public, but the company will need to release its financials at least 15 days before it begins its investor road show.<\/p>\n