Anthropic's IPO pricing announcement on November 10, 2026, sets the primary driver for trader sentiment on its closing market cap. The updated filing prices 825 million Class A shares at $70–$78, targeting up to $1.404 trillion fully diluted valuation at the high end—above the $965 billion May 2026 private round but below earlier $2 trillion speculation. Run-rate revenue reached $81 billion by late October, supported by major compute commitments exceeding $895 billion. A concurrent $26 billion private placement draws cornerstone investors including Google, Nvidia, Microsoft, and TSMC, signaling strong institutional backing for the Claude large language model developer. Shares are slated to begin trading on Nasdaq under ANT around November 19, with up to 20% retail allocation, making the debut a key test of AI sector demand amid volatile markets.