Anthropic’s most recent priced equity round closed in May 2026 at a $965 billion post-money valuation following a $65 billion Series H raise. Third-quarter revenue reached $16.8 billion, up 46 percent quarter-over-quarter and ahead of the $11.6 billion recorded in Q2, with the company reporting adjusted profitability. Annualized run-rate revenue sits near $65–74 billion, below some earlier $100 billion targets for 2026. Investor discussions around the planned November IPO have shifted from a potential $2 trillion valuation toward $1.5 trillion amid slower sequential growth and elevated compute commitments. The company is expected to file its S-1 publicly in late October, with a roadshow targeted for early November; the listing price will establish the public-market benchmark that determines whether Anthropic’s valuation clears higher thresholds by year-end.