Anthropic will list on Nasdaq with a valuation of up to $1.3 trillion

Under these conditions, Anthropic would be valued at $1.1–1.3 trillion. That’s less than the $2 trillion that some of the company’s investors predicted in the summer.

Anthropic will be the first public company dedicated entirely to artificial intelligence. By comparison, Elon Musk’s SpaceX, which went public in June, was valued at nearly $1.8 trillion.

At the same time, the company remains unprofitable. In the first half of 2026, its revenue rose to $16.2 billion versus $1.1 billion a year earlier. However, the pre-tax loss increased from $12.9 billion to $80.7 billion.

The placement comes amid high volatility in the large technology sector. After the US midterm elections on November 3, the Nasdaq fell sharply on concerns that a Democratic-controlled Congress could slow down the development of AI and the construction of data centers. Broader doubts also remain about whether multibillion-dollar investments in AI will pay off.

In October, Anthropic warned that advanced AI systems without proper protections, oversight and security measures could pose “catastrophic or existential risks to humanity.” According to the company, this is especially true if such systems are abused, copied, used as weapons or operate with a high degree of autonomy. The company also warned investors that its future success largely depends on its ability to develop cutting-edge AI models.

As a reminder, Anthropic was founded in 2021 by brother and sister Dario and Daniela Amodei, along with five other former employees of OpenAI, the developer of ChatGPT. Anthropic announced its intention to go public in June, followed by similar plans by OpenAI. Its placement is expected in early 2027.