Anthropic’s recent S-1 filing and amended updates have centered trader focus on its fast-approaching Nasdaq debut under ticker ANT, with the roadshow expected to begin as soon as November 10 and pricing targeted for mid-month ahead of Thanksgiving. Explosive revenue growth—reaching roughly $17 billion in Q3 with an annualized run rate near $80 billion—supports elevated expectations, yet valuation talk has moderated to the $1.25–1.75 trillion range after earlier $2 trillion hopes faded amid heavy compute commitments exceeding $895 billion and mixed operating results. Competitive pressure from OpenAI and other large language model developers, alongside founder voting control and AI safety disclosures, adds uncertainty to the final closing market cap. Traders are watching the next few days of investor meetings and any price-range amendment for signals on demand.