Anthropic is seen as the last major AI IPO in 2026, with prediction market Kalshi showing 75% odds for its public debut this year after OpenAI and several other companies postponed their offerings. The AI firm confidentially filed a prospectus with the SEC in early June. However, Anthropic's Q3 revenue of $16.8 billion showed weaker quarter-over-quarter growth than in past periods, leading to its IPO valuation range being revised down from an expected $2 trillion to $1.5 trillion, which analysts viewed as disappointing.