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On October 26, 2026, Anthropic formally submitted its S-1 to the U.S. SEC, initiating the listing review process and preparing for its IPO. The highest valuation expectation currently put forward by the market is already close to $2 trillion. If it ultimately reaches this level, Anthropic will surpass the $1.77 trillion IPO valuation record set by SpaceX this year and become the highest-valued company ever to go public.