Anthropic’s October 26 S-1 filing and subsequent amendments have anchored trader expectations for an $80-100 billion IPO raise on Nasdaq under ticker ANT, with the market’s leading $75-85 billion outcome reflecting scaled-back targets after earlier $2 trillion valuation hopes cooled amid broader tech-sector pressure. Explosive Claude large language model revenue—reaching $17 billion in Q3 2026 alone after a 1,368 percent year-over-year jump—supports a premium, yet $80 billion-plus first-half losses and over $500 billion in largely noncancelable compute commitments introduce caution. Goldman Sachs and Morgan Stanley are leading the syndicate, with roadshow activity eyed for mid-November and pricing potentially before Thanksgiving; recent investor reports point to a more conservative $1.5 trillion valuation range that could trim the final raise below prior $100 billion projections.