Anthropic moves IPO timeline up to before Thanksgiving
The AI company had been preparing for a November listing, according to prior reporting; investors expect a valuation of at least $2 trillion.
Published · Updated
UpdateThursday, October 1, 2026 at 1:39 PM ET
Formal marketing for the listing could begin the week of November 9, with trading starting before November 26, according to the report, ahead of the seasonal slowdown in dealmaking around the Thanksgiving holiday.
Anthropic is now targeting a listing before Thanksgiving, pulling forward a timeline that as recently as late September pointed to November.
Investors expect the company to seek a valuation of at least $2 trillion, which would make it the largest stock-market debut in history, according to PYMNTS, which cited investors briefed on the plans. The same investors expect Anthropic's annualized revenue to reach between $100 billion and $120 billion by the end of 2026, PYMNTS reported. Anthropic's last private valuation was about $965 billion, set in a Series H round in May 2026, according to Forge Global. No senior Anthropic executive has confirmed a valuation target even in private conversations, according to ValueAddVC, which cited Financial Times reporting, meaning the $2 trillion figure reflects market expectation rather than a price the company has set.
The compressed timeline leaves less room for Anthropic's compute commitments, including deals with SpaceX and Akamai, to be tested under public-market scrutiny before the roadshow. It also shortens the window to resolve a pending Pentagon supply-chain ruling and allegations over routing through China, matters that would ordinarily be allowed to play out before a listing of this size. None of this changes the demand picture that Nvidia and infrastructure partners have already built into their own guidance, but it does mean Anthropic's IPO disclosures will land closer to open legal and safety questions than the prior November timeline implied.