OpenAI rival Anthropic makes its IPO filing public as the race to dominate Wall Street’s AI trade heats up

Anthropic is officially preparing to go public, and Wall Street is about to get another major AI stock to trade.

The five-year-old company behind Claude has published its IPO paperwork after secretly filing with the SEC in June. It plans to list on the Nasdaq under ANT, although its debut still isn’t guaranteed.

AI stocks rally despite growing fears over industry spending

CEO Dario Amodei founded Anthropic in 2021 with researchers who left OpenAI. Since then, businesses have spent heavily on Claude, hoping AI can cut costs and generate revenue.

Growth accelerated this year through Claude Code and models including Fable 5 and Mythos 5. But competition from OpenAI and Google is fierce.

The company has also faced criticism over AI safety, regulation and national security, including two disputes with Washington.

Its listing will be after the record-breaking $85.7 billion IPO of SpaceX. Elon Musk’s company has been struggling to stabilize its trading performance, ending last week lower than its June initial price.

Investors are questioning whether AI revenue can justify trillions in infrastructure costs.

CoreWeave and Nebius have each lost over 30% this October as borrowing risks trouble data center companies.

However, there were signs of strength in Monday’s pre-market session as the prices of crude oil moved lower.

Futures contracts for the Dow Jones Industrial Average increased by 209 points or 0.4%, those for S&P 500 were up 0.4%, and those for Nasdaq-100 went higher by 0.7%.

As far as chip stocks were concerned, Nvidia was up 1.4%, Micron went up 2.3%, Broadcom increased by 1.5%, and AMD climbed 1.3%.

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