00:00The latest on an IPO for Anthropic is that it's picked the NASDAQ as a listing venue.
00:04I mean, how much closer does that get us?
00:06Well, I think it would have been widely expected that Anthropic would pick NASDAQ as a listing venue
00:11because for large companies that are going to be among the top 40 or 50 companies in the market,
00:19getting that very rapid inclusion into the NASDAQ indexes is a really big benefit
00:27and can generate like tens of billions of dollars of index-related demand.
00:31So that's a real benefit that NASDAQ has in its pitch to Anthropic over NYC.
00:36So I don't think there's a huge surprise there.
00:37I think the interesting thing is that obviously maybe even just a few weeks ago
00:42we were expecting Anthropic to potentially go public even in this month.
00:46But, you know, things seem to have been a little bit delayed
00:49and, you know, there still seems to be an expectation that Anthropic will go public this year.
00:53But the timeline stretched a little bit
00:55and I think we're not going to see it until next month at the earliest.
00:59Yeah, we have yet to see that public S-1 filing.
01:02Yes.
01:02We do know, Anthony, based on your reporting,
01:04that it's been holding informal meetings with investors.
01:06Have we heard anything about what's come out of these meetings?
01:09Yeah, I mean, there's different – I don't think it's been – these have been wide meetings.
01:13These are meetings that have been happening behind closed doors.
01:16And I think a lot of investors haven't quite seen the company yet.
01:20So, you know, I think they're keeping things pretty close to their chest.
01:23But the fact that, as you point out, that Anthropic hasn't actually filed publicly yet
01:27means that, you know, obviously the financials are not widely distributed out there.
01:31And, you know, it may be that if we're looking at an IPO that more moves into October or even
01:36later,
01:37obviously it starts to push up against things like the midterm election
01:40and just a compressed calendar in the final few months of the year.
01:44But then, you know, they would be able to put out some more metrics
01:47based on their third quarter performance,
01:49which may serve a purpose for supporting the valuation they're seeking.
01:52All right. And just very quickly, they still plan to raise about as much as SpaceX did in its IPO,
01:57right?
01:57That's still kind of the benchmark.
01:58Well, I think this is still a subject of a lot of speculation at the end of the day.
02:02So I'm reluctant to stick my neck out.
02:04But I think, generally speaking, we still believe that.
02:06So, I'll just chat to the end.
02:06And then...
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