Anthropic chose NASDAQ as its listing location, and plans for an October listing are gradually takin

Anthropic's initial public offering (IPO) is scheduled to land on Nasdaq in October, with valuation, Nvidia's investment intentions and financial risks becoming the focus.

Anthropic's initial public offering is expected to be listed on Nasdaq. The company is currently targeting the October window, but the plan still depends on market conditions.

According to Reuters, Anthropic secretly submitted a draft S-1 form on June 1. However, key information such as the number of shares, price range, audited financial data and public prospectus has not been disclosed. The market expects the company to raise up to US$100 billion and a valuation of approximately US$2 trillion, but these goals are still under discussion.

At the same time, Nvidia could invest up to US$10 billion as a cornerstone investor. Investors are weighing the risks between their annualized revenue operating rate of $65 billion and reported losses in 2025.

Proposed choice of Nasdaq: Strengthening its position in the technology sector

Anthropic has reportedly selected Nasdaq as its potential public exchange, which has brought close attention to the October listing window. According to Reuters, if it is successfully listed, Anthropic will become another large technology company welcomed by Nasdaq after SpaceX's listing earlier this year.

However, neither Anthropic nor Nasdaq publicly confirmed the exchange selection decision. The company's final timetable, valuation, number of shares and issue price have not yet been determined. Anthropic has only confirmed the submission of its confidential draft registration, and investors are currently unable to obtain public prospectus or audited financial details. These subsequent disclosures will guide the direction of investors 'review.

The game between listing process and timetable

Anthropic announced on June 1 that it had secretly submitted a draft S-1 with the U.S. Securities and Exchange Commission (SEC). The filing gives the company the right to move forward after regulators complete their review. Anthropic said market conditions will determine whether to formally proceed with the offering and that the number of shares or price has not yet been set.

Confidential submissions are different from public prospectus, which requires disclosure of audited accounts, risk factors, ownership structure and terms of the issue. According to Business Insider, Anthropic has not released the disclosure document and stated that financial disclosures must be completed at least 15 days before investor marketing promotion.

Reuters pointed out that the road show could be held as early as mid-October. Sources expect the listing to be completed shortly before the November midterm elections, although the timetable may change. Sources also expect Anthropic to release official documents by the end of September, leaving limited time for investors to review them.

A listing on Nasdaq will further consolidate its position as a major trading venue for technology stocks. Previously, SpaceX's 2026 debut was also held on Nasdaq, while the New York Stock Exchange was committed to competing for other large offerings. However, the choice of an exchange itself does not determine post-listing performance.

Nasdaq and the New York Stock Exchange use different systems for establishing the opening price of stocks on the first trading day. This distinction can be significant for transactions with abnormally high demand and huge trading volumes. Still, valuations, allocations, earnings quality, and market conditions may more directly affect Anthropic's IPO performance.

Anthropic did not confirm October as the exact date. Investors face goals rather than fixed timetables. Regulatory review or market weakness may cause issuance to be delayed to a later window.

Valuation controversy, Nvidia's role and financial risks

As previously mentioned, Anthropic is seeking financing of up to US$100 billion, with a valuation of nearly US$2 trillion. The data could lead to the largest IPO in history, but sources warned that discussions could still change.

According to Reuters, Nvidia is considering investing up to US$10 billion as a potential cornerstone investor. This will deepen the relationship between Anthropic and Nvidia, a major supplier of artificial intelligence computing power.

Anthropic raised $65 billion in May at a post-investment valuation of $965 billion. As of the end of July, its annualized revenue operating rate had exceeded US$65 billion, compared with approximately US$9 billion at the end of 2025. It should be noted that this indicator estimates recent sales activities and is not equivalent to recognized annual revenue.

Reported losses add to the test facing Anthropic's IPO. Anthropic reportedly recorded a net loss of nearly US$42 billion in 2025 due to high computing expenses. The prospectus should show whether its profit margins, cash flow utilization and customer concentration have improved in 2026.

According to Reuters, Morgan Stanley, Goldman Sachs, JPMorgan Chase and Citigroup were all involved in the banking work of the transaction. The final role allocation will determine distribution, pricing and stability responsibilities during the IPO.

Investors will also assess the extent to which they rely on external cloud services and chip providers. Amazon and Google currently support Anthropic and provide computing resources. In addition, recent safety warnings have also put Anthropic's model governance and risk disclosure before going public.

Reports on Nasdaq have driven the Anthropic IPO process, suggesting that public filing is the next measurable step. The document should clarify voting control, major shareholders, dilutions, legal risk exposure and financial results before any roadshow begins.