Anthropic’s October 26 S-1 filing and rapid revenue growth in its Claude large language model underpin the overwhelming trader consensus for a 600B+ IPO market cap. Quarterly revenue reached $17B in Q3 2026 after climbing more than 1,300% year-over-year, supported by major cloud partnerships and compute investments that position the company competitively against other frontier AI labs. With the Nasdaq listing under ticker ANT targeted for mid-November, market-implied odds reflect expectations of a valuation well above recent private rounds at $965B. Realistic challenges include further tech-sector volatility or pricing concessions that could trim the final figure, yet even adjusted targets remain far above the 600B threshold.