Anthropic's IPO timeline centers on preparations for a mid-November 2026 listing following its confidential June filing and late-September prospectus release. The filing revealed 2025 revenue near $4.6 billion with a July 2026 annualized run rate exceeding $65 billion and projections toward $100-110 billion by year-end, alongside a $42 billion net loss and $518 billion in multi-year compute commitments. Underwriters including Morgan Stanley and Goldman Sachs are targeting formal marketing the week of November 9, positioning a debut before Thanksgiving amid a $2 trillion valuation target that would eclipse SpaceX's record. Trader sentiment reflects the compressed window, heavy Big Tech dependencies, and disclosed AI risk factors, with market-implied odds pricing in a high probability of completion by year-end barring regulatory or market disruptions.