Anthropic has selected Nasdaq for its potential initial public offering, according to a person familiar with the company's plans, as cited by Business Insider, as the artificial intelligence company moves closer to a potential stock market debut.
Investors are watching Anthropic's IPO plans closely as the Claude maker targets an October listing. The company has not yet made its IPO filing public, and details around the final valuation and offering remain undecided.
Anthropic Could Be Valued At $2 Trillion
The Nasdaq selection gives the exchange another major technology listing after SpaceX chose the exchange earlier this year. SpaceX was valued at $1.75 trillion, while some estimates have placed Anthropic's potential valuation at around $2 trillion, although that figure has not been finalised.
The size of potential listings such as Anthropic and SpaceX has made the competition between Nasdaq and the New York Stock Exchange particularly important. Both exchanges are looking to establish themselves as the preferred destination for the next wave of artificial intelligence companies.
Nasdaq has maintained a strong position among technology companies, with listings including Cerebras and Rivian.
Also Read: Anthropic's Misuse Dossier And 2030 Economic Model, Published Days Apart, Show Black Mirror Is Here
IPO Comes Amid AI Risk Debate
Anthropic's potential listing comes as concerns around the risks associated with increasingly capable artificial intelligence systems continue to attract attention.
OpenAI CEO Sam Altman has said OpenAI would not go public at the moment amid the broader controversy surrounding existential risks from AI. The debate gained further attention last week after a former Anthropic employee warned of a greater than 10% risk of human extinction from artificial intelligence.
For investors, however, the choice between Nasdaq and NYSE may have limited significance for Anthropic's longer-term trading performance. Business Insider noted that there is no definitive evidence that companies perform better on one exchange than the other.
The exchanges do differ in their market-maker mechanisms and processes for determining opening prices, which can become important during high-volume IPOs.
Anthropic's IPO filing has not yet been made public. The company will need to disclose its financials at least 15 days before beginning its investor roadshow.
Also Read: Anthropic CEO Dario Amodei Says 'We Must Slow Pace Of Improving AI Models'
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