Anthropic’s November 10 pricing range of $70–$78 per share, implying a fully diluted valuation of up to $1.404 trillion at the top end, anchors trader sentiment around the $1.25–1.5T bracket as the leading outcome. The filing details strong revenue momentum, with run-rate revenue reaching $81 billion by October 31 alongside substantial compute commitments, and a $26 billion concurrent private placement from cornerstone investors including Google and Nvidia. Trading is slated to begin on Nasdaq under ticker ANT near November 19. Earlier expectations of a $2 trillion valuation have moderated amid broader AI-sector pullbacks, aligning market-implied odds with the filed terms while leaving room for upside in the adjacent $1.5–1.75T range if demand proves robust.