Recent reporting from the Wall Street Journal and Reuters has positioned November 2026 as the leading outcome at 54.7% implied probability, as Anthropic shifted its target from an October listing to allow inclusion of third-quarter financial results and demonstrate its competitive standing in the large language model space. The company filed confidential S-1 paperwork in June and is advancing preparations including a $15 billion revolving credit facility with major underwriters, amid strong revenue momentum that has pushed annualized run rates above $65 billion with projections nearing $110 billion by year-end. Traders are pricing in a potential $2 trillion valuation while monitoring roadshow meetings and any final adjustments before the U.S. midterm elections. December 2026 at 18.2% captures residual timeline slippage risk in this high-stakes AI debut.