Anthropic still plans to go public later this month despite Wall Street’s anxiety around the company’s plans for an initial public offering and questions about the true valuation of AI companies more broadly, according to a new report from the Wall Street Journal.

Shares in Anthropic, which will be listed on the Nasdaq as ANT, could become available as soon as Oct. 19 or 20, according to the Journal. As recently as a few months ago there was speculation that Anthropic could be valued at roughly $2 trillion, which would have made it the most valuable company to ever go public. SpaceX was valued at $1.77 trillion when it went public in June.

But those dreams of a record-setting valuation appear much less likely to be fulfilled these days. Last week, investors landed on $1.5 trillion being a much more realistic valuation after AI-adjacent stocks took a beating. CNBC reported on Friday that $1 trillion to $1.25 trillion appeared to be a “more likely” valuation for Anthropic.

The tech-heavy Nasdaq saw its worst month in quite a while this October as the chipmakers and so-called neoclouds saw their stocks sink. Nvidia hit an all-time high of $243.37 per share on October 6, only to sink to $204 per share at the end of the month. Nvidia has crashed even further in November, closing Monday at $178.67.

Nvidia was hit particularly hard on Monday over news that CEO Jensen Huang had engaged in an extramarital affair with a woman suspected of being a Chinese spy .

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