Trader sentiment for Anthropic’s IPO valuation centers on the company’s rapid revenue expansion and confidential IPO filing, which have fueled expectations of a debut near or above $2 trillion. Recent prospectus details show annualized revenue run rates climbing from roughly $65 billion in July toward $100–120 billion by year-end, driven by Claude model adoption, even as 2025 net losses reached $42 billion amid $518 billion in long-term compute commitments. The May 2026 $65 billion funding round at a $965 billion valuation and planned November roadshow reinforce market-implied odds favoring the $1.75–2.25 trillion bands, reflecting AI sector multiples applied to frontier lab growth while acknowledging execution risks around margins and regulatory scrutiny.