Anthropic’s market-implied 70.7% probability for a November 2026 IPO reflects the company’s adjusted timeline after confidential SEC filing in June, with recent reporting confirming a push from mid-October marketing to a mid-November roadshow start. This shift allows inclusion of full third-quarter results amid explosive revenue growth—annualized run rate exceeding $100 billion—while targeting a roughly $2 trillion valuation and over $100 billion raise. The prospectus details massive infrastructure commitments and AI risk warnings, yet positions the listing before Thanksgiving amid strong trader confidence in frontier AI demand. Later months carry lower odds as the process accelerates toward resolution.