Anthropic’s S-1 filing on October 26, 2026, and subsequent reporting of a targeted Nasdaq listing in the week of November 16 have anchored the 75.3% implied probability for a November IPO. The company reported $16.3 billion in first-half revenue with its first quarterly operating profit, underscoring rapid large language model adoption and competitive positioning against peers, while underwriters including Goldman Sachs and Morgan Stanley prepare roadshow marketing as early as November 9. Traders view the post-midterm election window and pre-Thanksgiving schedule as the clearest path to completion, with historical AI-sector timelines and confirmed regulatory readiness outweighing risks such as valuation slippage or market volatility that could push resolution later.