What Jim Cramer is watching as Anthropic heads to Nasdaq

Jim Cramer is focusing on a key question as Anthropic heads toward the Nasdaq: whether investors have enough capital to fund another wave of massive AI spending. Anthropic filed its IPO paperwork on Oct. 26, with media reports suggesting a valuation between $1.5 trillion and $2 trillion. The company plans to list on Nasdaq under ticker ANT, targeting a mid-November debut. The prospectus highlights scale and financing needs, showing $16.3 billion in revenue for the first half of 2026 and an operating loss of $693 million, alongside compute-related future obligations of about $518 billion that have grown to over $600 billion across roughly eight partners. Anthropic also pays SpaceX $1.25 billion per month to access the Colossus data center in Tennessee through May 2029.