Anthropic Targets Nasdaq Debut Next Week as Valuation Expectations Cool
Anthropic plans to list on Nasdaq on November 19 or 20 under the ticker ANT, kicking off its roadshow and disclosing a valuation range this week. After a broad AI stock pullback, expected valuation has been cut from $1.5 trillion to $1.1-1.3 trillion, with a fundraising target of $80-100 billion. The IPO is seen as a key test of how the market values the AI industry.
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IT之家 November 10 news: The Wall Street Journal today (November 10) published a blog post reporting that AI company Anthropic is advancing its initial public offering (IPO), aiming to begin trading on Nasdaq next Thursday (November 19) or Friday (November 20), with the stock ticker tentatively set as****ANT. The company is expected to disclose key information early this week, including the IPO valuation range, the number of shares to be offered, and the offering price.
The market had originally expected Anthropic's IPO valuation to be about $1.5 trillion (IT之家 note: approximately 10.02 trillion yuan at current exchange rates), and there was even discussion at one point of close to $2 trillion (approximately 13.36 trillion yuan at current exchange rates). But after AI-related stocks pulled back sharply last week, some major institutional investors began to pressure the company to accept a lower valuation.
Some investors believe that a $1.5 trillion valuation is already "on the high side", and that a more realistic range may fall between $1.1 trillion and $1.3 trillion (approximately 7.35 trillion to 8.68 trillion yuan at current exchange rates); others believe the valuation may be close to $1 trillion (approximately 6.68 trillion yuan at current exchange rates).
Despite the cooling market sentiment, Anthropic has not publicly postponed its listing plan. The company will meet with core investors this week and launch a roadshow to test the market's willingness to absorb this rare, large-scale tech IPO.
Earlier reports said Anthropic hopes to raise $80 billion to $100 billion (approximately 534.385 billion to 667.981 billion yuan at current exchange rates), which, if achieved, would make it one of the largest IPOs in the world; however, the final fundraising size, offering price, and valuation have not yet been determined.
This listing is seen as a key test of the valuation logic of the AI industry. On the one hand, Anthropic, with its Claude series models, rapidly growing revenue, and massive computing investment, is regarded as a core beneficiary of the AI infrastructure wave; on the other hand, investors are increasingly focused on AI companies' huge capital expenditures, profitability, and computing supply bottlenecks, putting pressure on high valuations.