Anthropic's IPO timeline has shifted toward November 2026 after earlier targets of October slipped, driven by the need to present full third-quarter results ahead of the roadshow. The company confidentially filed its S-1 in June and is targeting a roughly $100 billion raise at a $2 trillion valuation, supported by annualized revenue run rates now projected above $110 billion by year-end following rapid Claude adoption. This compares to its May Series H round at a $965 billion post-money valuation. Key banks including Goldman Sachs, JPMorgan, Morgan Stanley, and Citi are leading, with a $15 billion credit facility in progress and potential anchor interest from Nvidia. Market conditions, the November midterms, and SEC review pace remain central variables for resolution.