Anthropic has selected the Nasdaq as the listing venue for its initial public offering (IPO), aiming to complete the listing by October 2026. The relevant prospectus has been submitted confidentially to the U.S. Securities and Exchange Commission (SEC).

In terms of financing background, Anthropic recently completed a $65 billion funding round (Series H) on May 28, with a post-money valuation reaching $965 billion. This is the latest publicly disclosed benchmark for the company's private valuation, and the pricing for the IPO will directly reference this benchmark.

According to market expectations, the valuation for this listing could be pushed up to nearly $2 trillion, more than double the private valuation from May; if realized, it would place Anthropic among the largest tech company IPOs in recent years.

This year, Nasdaq has already hosted the listing of SpaceX, which was valued at $1.75 trillion, making it one of the few heavyweight tech stock issuances this year. If Anthropic successfully completes its listing, Nasdaq will have secured the two largest tech company IPO transactions globally within the same year.

It is noteworthy that OpenAI CEO Sam Altman previously stated that, for safety and alignment reasons, OpenAI "will not go public in 2026," believing that the current time is not suitable; meanwhile, Anthropic is advancing its listing plan in the same month, with both leading labs making starkly opposite capital market decisions based on nearly identical industry conditions.

From a market mechanism perspective, this IPO means that institutional investors (including hedge funds, sovereign funds, and mutual funds) who could only enter through private rounds will now have access to the public market. Given that valuation expectations have already been "discussed" in the $2 trillion range, existing shareholders in the primary market (including Amazon, Google, and other previous investors) may have motives to partially exit or realize valuations through the listing window, while new public market funds are betting on Anthropic's continued penetration in the enterprise AI market. The pressure point is OpenAI, which has publicly stated it will delay its IPO; if Anthropic's post-listing valuation is validated by the market, it will directly raise external pressure on the pricing reference for OpenAI's subsequent financing.

Source: Public Information