Rapid revenue growth to over $100 billion annualized run rate, driven by strong Claude large language model adoption and enterprise demand, underpins trader consensus for an Anthropic IPO closing market cap above $1.8 trillion at 82.5% implied probability. The company’s confidential S-1 filing in June 2026, followed by a $965 billion private valuation after its May Series H round, has fueled expectations of a Nasdaq debut near $2 trillion—potentially the largest IPO ever—amid October or November timing before U.S. midterms. Recent shifts to include third-quarter results in the roadshow and a $15 billion credit facility have not dented momentum, as investors price in continued expansion against competitive AI benchmarks while acknowledging risks like regulatory scrutiny and compute costs that could affect final pricing.