Anthropic, the AI company known for its Claude technology, is moving ahead with plans to debut on the Nasdaq under the ticker ANT, despite a recent downturn in AI stock valuations. The initial public offering (IPO) is slated for November 19 or 20, according to a report by the Wall Street Journal.

Market observers note that the expected valuation has decreased from the $2 trillion figure discussed in initial investor conversations to a range of $1.0–$1.3 trillion, reflecting the broader selloff across the AI industry. Current pricing in prediction markets — platforms where participants trade on the outcomes of future events — indicates a moderate probability that Anthropic's market capitalization will be less than $1.25 trillion at the close of the IPO.

The listing follows a series of recent product launches by Anthropic, including the Claude Fable 5.2 and Claude Mythos 5.2 models, which aim to bolster the company's competitive position. Proceeding with the IPO amid uncertain market conditions suggests a strategic move by Anthropic to capitalize on its recent product advancements.

In the lead-up to the debut, markets will closely monitor Anthropic's final pricing and valuation details. IPO pricing is typically finalized by the company and its lead underwriters shortly before the first day of trading. Any amendments to the S-1 filing — the registration statement a company files with the U.S. Securities and Exchange Commission before its shares can be offered to the public — or changes in investor sentiment could influence market expectations. Once trading begins, the stock's post-IPO performance is expected to provide further insight into the appetite for AI investments amid current market volatility.

Updates from key stakeholders, including the banks serving as lead underwriters and major strategic investors such as Amazon and Google, could also affect the IPO's trajectory.