Anthropic’s rapid revenue acceleration underpins trader focus on a 2026 IPO, with annualized run-rate climbing from roughly $65 billion in July to an expected $100–110 billion by year-end amid 142 percent quarter-over-quarter growth in Q2. The company confidentially filed its S-1 with the SEC on June 1 and is now targeting a public filing in late September, followed by marketing in mid-October or later to incorporate third-quarter results before a potential November listing. Investors price the debut at roughly $2 trillion valuation with up to $100 billion in proceeds, supported by a $15 billion credit facility and potential $10 billion anchor from Nvidia. Recent timeline shifts from October reflect standard pre-IPO adjustments for fuller financial visibility and market conditions, while OpenAI’s move to 2027 clears a competitive path. Key near-term catalysts include the public registration statement and roadshow investor meetings.