Anthropic’s pursuit of a record-setting IPO drives the overwhelming 97.2% market-implied probability against acquisition before 2027. The company confidentially filed with the SEC in June 2026, with a prospectus outlining surging revenue run rates near $65 billion, heavy infrastructure commitments exceeding $518 billion, and plans to list on Nasdaq as early as mid-November at a potential $2 trillion valuation. Strategic investments from Amazon and Google, plus recent small acquisitions to bolster Claude capabilities, underscore its independent trajectory rather than sale discussions. With formal IPO marketing slated for early November, only an unforeseen regulatory intervention or sudden strategic reversal could alter the near-term outcome in the remaining months of 2026.