Anthropic’s IPO filing and ongoing roadshow have driven strong trader sentiment, with the offering of 825 million shares at $70–$78 each targeting up to $64.4 billion in proceeds and a $1.4 trillion fully diluted valuation. Institutional demand has reached six times coverage by mid-November, supported by a $26 billion private placement from Google, Nvidia, Microsoft and other strategic investors at the IPO price. Run-rate revenue reached $81 billion as of late October amid rapid Claude adoption, though the company reported an $80.7 billion net loss in the first half of 2026 driven largely by non-cash items. Shares are scheduled to price November 18 and begin trading November 19 on Nasdaq under ticker ANT, positioning the deal as a key test of AI-sector multiples amid elevated infrastructure costs and competitive pressures.