Anthropic’s aggressive November IPO timeline, targeting a mid-month launch before Thanksgiving, rests on accelerating revenue momentum and investor outreach despite heavy accounting-driven losses. Third-quarter revenue reached $16.8 billion, up 46% sequentially, with adjusted profitability achieved, while annualized run-rate estimates range from $65–100 billion. These figures support valuation discussions around $1.5–2 trillion—well above the $965 billion May 2026 post-money level—but contrast with $80.7 billion first-half net losses and multi-year compute commitments exceeding $600 billion. Key near-term catalysts include an expected public S-1 filing within days to enable a Nov. 9 roadshow, post-midterm market conditions, and regulatory scrutiny over AI liability risks. Trader sentiment on platforms like Polymarket reflects the narrow window and execution risks around these fundamentals.