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Anthropic nears Morgan Stanley, Goldman roles in $2tn IPO

Financial Times Companies •
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Anthropic is close to awarding Morgan Stanley and Goldman Sachs the most coveted roles in its blockbuster Wall Street debut, as the AI group prepares to unveil its IPO paperwork as soon as next week.

Morgan Stanley was in pole position to secure the prized "lead left" role, according to four people familiar with the matter. Goldman Sachs is expected to act as the IPO's stabilisation agent, overseeing the crucial first sessions of trading. Morgan Stanley had led discussions with potential investors about the share price, though the selection was not finalised.

The Claude chatbot maker is expected to publicly file its IPO prospectus as soon as next week, firing the starting gun on an offering that will test investor appetite for AI ventures months after Space X raised $86bn at a $1.78tn valuation. Half a dozen Anthropic investors expected the group to float at $2tn or more.

JPMorgan, Citigroup and Barclays are also expected to get leading roles after providing debt financing. Anthropic told shareholders in August that its July revenue hit a $65bn annualised pace, up from $47bn in May. A roadshow is planned for late September, potentially putting trading on New York markets by early October.