The biggest IPO in U.S. stock market history might come from Anthropic. Anthropic could launch its IPO as early as November, with a target valuation of $1.8 trillion to $2 trillion, and fundraising potentially surpassing SpaceX. Revenue is expected to skyrocket to $4.6 billion by 2025, a nearly 12x year-over-year increase, but operating losses are still over $8 billion. For every $10 earned, they lose about $17.5 An IPO of this scale with such losses— could it drag down the U.S. stock market?