Anthropic filed for its IPO on October 26 with a target valuation range of $1.5–$2 trillion, but recent investor discussions have shifted expectations downward from $2 trillion to around $1.5 trillion following the company's financial disclosures. FutureSearch forecasts a median first-day market cap of $1.80 trillion, suggesting the $2 trillion threshold is unlikely but possible depending on final pricing before the November 16 trading debut.