**Trader consensus on Anthropic’s IPO valuation centers on the $2.00–$2.25 trillion range at 47.7% implied probability, reflecting the company’s confidential June 2026 S-1 filing and ongoing preparations for a mid-November debut after the U.S. midterms.** Recent prospectus details highlight explosive revenue growth—annualized run rate exceeding $65 billion by late July 2026 and projections above $100 billion by year-end—alongside $2 trillion-plus valuation targets that more than double the May private valuation of $965 billion. This momentum stems from surging demand for Claude large language models, competitive releases countering OpenAI’s GPT advancements, and major infrastructure partnerships, even as the filing discloses $42 billion in 2025 net losses and $518 billion in long-term compute commitments. Market-implied odds also assign 33% to the $1.75–$2.00 trillion band, underscoring trader focus on execution risks around costs, regulatory scrutiny, and the precedent set by SpaceX’s recent listing.