Anthropic’s IPO roadshow, launched November 10 with shares priced at $70–$78, represents the dominant catalyst for near-term valuation, targeting up to $1 trillion on shares outstanding or $1.4 trillion fully diluted and marking a sharp step up from the $965 billion post-money valuation set in its May 2026 Series H round. Revenue growth to a roughly $81 billion annualized run rate, supported by Q3 results of $17 billion, underpins the offering alongside $900 billion-plus in infrastructure commitments, though a recent tech selloff has tempered earlier $1.5–2 trillion expectations and widened the gap between market-implied pricing and prior private rounds. The November 18–19 pricing and Nasdaq debut under ticker ANT, followed by a concurrent $26 billion private placement with strategic investors including Google and Nvidia, will directly shape the company’s public valuation ahead of the November 30 resolution.