Anthropic, the AI safety startup founded by former OpenAI leaders, is widely expected to pursue a public listing in 2026. The company's IPO valuation is a subject of intense speculation among investors tracking the competitive landscape of large language models and AI infrastructure. This market asks whether Anthropic's market capitalization will land in the $200B–$300B range at the close of its first day of trading, representing a relatively modest valuation compared to estimates that have circulated in venture discussions. The 0% current odds reflect market skepticism about this specific price band, suggesting traders either expect a higher or lower IPO valuation. Historical tech IPO outcomes and comparable valuations for AI companies like OpenAI (private, reportedly $80B–$100B) and other large language model developers inform market expectations. The resolution depends on official market-closing data published by the exchange on IPO day, making this a verifiable outcome. As the IPO approaches, odds may shift based on market conditions, competitive announcements, and investor sentiment toward AI companies.