Anthropic’s recent S-1 filing on October 26, 2026, and associated reports targeting a roughly $100 billion primary raise have anchored trader consensus around the $95–105 billion range. Explosive revenue growth to $16.3 billion in the first half of the year, driven by Claude large language model adoption among enterprise customers, supports ambitious pricing expectations near the $1.5–2 trillion valuation band discussed by underwriters. The company’s last private round at $965 billion in May and heavy compute commitments underscore the capital needs fueling the IPO size. With listing eyed for mid-November after the midterms, any final share count adjustments or market volatility could shift the exact proceeds within the current leading brackets.