Anthropic PBC is set to finalize expanding its revolving credit facility to $15 billion, according to people familiar with the matter, clearing a hurdle before the artificial intelligence firm’s public filing for its highly anticipated IPO. Morgan Stanley is leading the process, with Goldman Sachs Group Inc., JPMorgan Chase & Co., and Citigroup Inc. also having prominent roles. Barclays Plc and Wells Fargo & Co. are expected to have key roles, while Bank of America Corp., Deutsche Bank AG, Royal Bank of Canada, and UBS Group AG are high in the facility’s lineup.

Additional banks including Bank of Montreal, BNP Paribas SA, Credit Agricole SA, Mizuho Financial Group Inc., Mitsubishi UFJ Financial Group Inc., Sumitomo Mitsui Financial Group Inc., and Toronto-Dominion Bank are also participating. The facility exceeds Anthropic’s roughly $10 billion target reported in August and is substantially larger than its prior $2.5 billion five-year facility. The AI developer aims to raise as much as SpaceX or more in its IPO, with annualized revenue projected over $65 billion based on current performance—up more than sevenfold from last year’s pace.