Anthropic's IPO timeline has shifted to a November 2026 target after recent delays from an October window, driven by the need to present third-quarter results during the roadshow that is now expected to begin in mid-October. The company confidentially filed its S-1 with the SEC on June 1 and is preparing a potential $100 billion raise at roughly $2 trillion valuation, supported by rapid revenue expansion that includes an $11.5 billion quarterly run rate in Q2 and internal projections exceeding $110 billion annualized by year-end. Lead underwriters Goldman Sachs, JPMorgan, Morgan Stanley, and Citi are also finalizing a $15 billion revolving credit facility ahead of analyst meetings and public filing. Trader sentiment reflects these fundamentals alongside secondary-market marks near $1.34 trillion, positioning the outcome around the proximity of regulatory clearance, market conditions, and pre-midterm listing logistics.