"Anthropic IPO Could Come as Early as Next Week"—Valuation of More Than $2 Trillion Would Be the Largest Ever

[Financial News]  

Anthropic has effectively finalized Morgan Stanley and Goldman Sachs as its IPO underwriters, and a historic listing could take place as early as next week, the Financial Times (FT) reported on the fourth, local time. Anthropic’s IPO is expected to become the largest ever, surpassing Elon Musk’s SpaceX, which set the previous record in June.
Citing four sources, the FT reported that Morgan Stanley would serve as the lead-left underwriter, wielding the most prominent authority. “Lead left” is a financial-industry term referring to the lead underwriter whose name appears in the upper-left corner of an IPO prospectus cover or list of securities firms.
Goldman Sachs is also expected to serve as the IPO’s stabilization agent. This lead underwriter is assigned the specialized task of preventing a sharp initial drop in the share price immediately after listing and stabilizing the stock. Along with the lead-left underwriter, it is an investment bank that effectively drives the IPO.
Two sources said Morgan Stanley had continued discussions with potential Anthropic investors in recent weeks about the offering price, but that no final decision had yet been made on whether Morgan Stanley would become the “lead left.”
According to multiple sources, Anthropic, which has recently generated considerable buzz with its artificial intelligence (AI) models Claude Mythos 5 and Claude Fable 5, will pursue a listing as early as next week. With volatility in AI-related stocks remaining high, the IPO is expected to determine whether the current enthusiasm can continue.
SpaceX previously raised $86 billion through its IPO, setting a record valuation of $1.78 trillion. Anthropic is expected to set a new record with a valuation exceeding $2 trillion.
In addition to Morgan Stanley and Goldman Sachs, JPMorgan Chase, Citigroup, and Barclays are also expected to play important roles in Anthropic’s IPO.
Meanwhile, the IPO could be delayed until the end of this month or early next month. Anthropic is currently preparing to hold roadshows in several cities. The sources said that if the roadshows proceed as planned, the IPO could take place at the end of this month or in early October.


[email protected] Song Kyung-jae Reporter