Anthropic (ANTHROPIC) Stock Price Prediction: IPO pricing debate sharpens as revenue scales but leverage to compute remains a risk

Filing update resets the valuation conversation

Anthropic’s amended S-1 changed the tone of the deal. Reuters, via Investing.com, said the company reported $16.96 billion of third-quarter revenue in the filing and $33.24 billion for the nine months ended September 30, while CNBC reported the same amended filing and highlighted the updated financials. TechCrunch said the company is now targeting an IPO price range of $70 to $78 per share, implying a fully diluted valuation as high as $1.404 trillion at the top of the range.

That matters because the company’s last disclosed private valuation was $965 billion in its May 28, 2026 Series H round, when Anthropic said it had also crossed a $47 billion run-rate revenue milestone. The new filing implies the market is being asked to reprice the business materially higher in a short window, on the back of still-rapid revenue growth.

Growth is strong, but the pace is already slowing

The core fundamental read is not just that revenue is large; it is that growth is still enormous but less explosive than before. Reuters said revenue rose 47% quarter over quarter in Q3, compared with 144% growth in Q2. That deceleration does not break the bull case, but it does narrow the margin for error when a company is asking public investors to underwrite a premium valuation.

Anthropic also disclosed nearly $900 billion in computing commitments with partners including Amazon and Alphabet’s Google, according to Reuters. That is the key tension in the story: the business is scaling quickly, but the infrastructure bill behind that scale is also enormous. The filing makes the growth story more visible, but it also makes the funding and capacity requirements harder to ignore.

Price action is holding up better than the trend

ANTHROPIC stock is quoted at $1,395.15, up 1.25% on the day, with a 24-hour range of $1,254.48 to $1,409.45 and $370.2 million of Binance Futures volume. The price is sitting just above the 7-day SMA at $1,388.64, but still below the 20-day SMA at $1,640.44, the 50-day SMA at $1,851.11, the 12-day EMA at $1,493.03 and the 26-day EMA at $1,642.85.

That is a mixed tape: short-term stabilization, but no clean trend reversal yet. The daily RSI of 31.06 is near oversold territory without being a hard reversal signal. MACD remains negative at -149.8210, and the Stochastic readings, at 22.87 for %K and 18.29 for %D, still point to weak momentum. Bollinger positioning also shows the market compressed toward the lower half of the band structure, with the price below the middle band at $1,640.44 and above the lower band at $1,226.67.

Levels that matter now

The key pivot is $1,353.03. Holding above that area keeps the current rebound attempt intact. Below it, immediate support sits at $1,296.60, followed by strong support at $1,198.06. On the upside, immediate resistance is $1,451.57, and the bigger test is $1,508.00.

Given the ATR(14) of $123.43, the stock can move sharply enough to reach those levels quickly, but volatility cuts both ways. The structure argues for respect of the bounce, not confidence in a sustained trend change unless price can reclaim $1,451.57 and then $1,508.00.

Derivatives positioning still leans long, but it is not decisive

Binance perpetual futures positioning is long-biased. The global long/short ratio is 3.8614, with Binance global accounts at 79.4% long and 20.6% short, while top-trader accounts are even more skewed at 81.0% long and 19.0% short. Funding is slightly positive at 0.0050%, which is neutral in practical terms, and taker flow is close to balanced at 0.9159, with buy volume of 2,012 versus sell volume of 2,196.

Open interest is the more important counterpoint. It stands at 88,184 contracts, with an open interest value of $97.9 million, but is down 16.21% over 24 hours. That usually points to position reduction rather than fresh conviction. So while the crowd on Binance is still leaning long, the market has also already seen some de-risking.

What would improve the setup

A stronger case would require two things: a hold above the pivot at $1,353.03 and a push back through $1,451.57 with improving open interest. If that happens, the market can start testing whether the post-filing repricing has room to extend.

The downside case is straightforward: if ANTHROPIC stock loses $1,296.60, the next meaningful reference is $1,198.06, and that would suggest the filing-driven bid is not holding once the initial IPO enthusiasm fades.