Anthropic’s rapid revenue expansion, with annualized run rates climbing from $65 billion in July 2026 toward $100–110 billion by year-end, underpins market expectations for a potential $2 trillion IPO valuation and up to $100 billion raise. The company confidentially filed its draft S-1 with the SEC in June and is now targeting a November listing after shifting marketing plans from mid-October, aiming to present third-quarter results during the roadshow. Lead underwriters Morgan Stanley and Goldman Sachs are coordinating amid discussions of a $15 billion credit facility and possible anchor investment from Nvidia. Recent AI safety commentary from CEO Dario Amodei and competitive pressures from OpenAI have introduced modest timing uncertainty, though strong quarterly growth and institutional demand continue to support a fall 2026 debut on Nasdaq.