Anthropic PBC is set to add Citigroup Inc. to the banks working on its initial public offering, according to people familiar with the matter, as Wall Street jostles for roles on the artificial intelligence firm's debut.

The move positions Citigroup among the top IPO banks for Anthropic's highly anticipated listing, which could value the AI company at billions of dollars.

The addition reflects strong demand from major financial institutions to participate in what is expected to be one of the largest tech IPOs in recent years.

Anthropic, known for its Claude AI models, has been preparing for a public listing amid surging interest in AI companies.