Anthropic is advancing toward a potential record IPO targeting mid-November 2026, with formal marketing eyed for the week of November 9 and trading possibly before Thanksgiving, according to recent Bloomberg and Reuters reporting. The company confidentially filed in June after raising $65 billion in May at a $965 billion post-money valuation, now aiming for $1.8–2 trillion and up to $100 billion in proceeds. Its annualized revenue run rate exceeded $65 billion by late July, up sharply from $4.6 billion for full-year 2025, though the prospectus disclosed a $42 billion net loss that year alongside $518 billion in long-term compute commitments and explicit warnings on advanced AI risks. Key upcoming catalysts include third-quarter results ahead of the roadshow and broader market conditions for large tech listings.