Anthropic Prepares for $2 Trillion IPO

According to Yonhap Infomax, Anthropic is moving forward with selecting Morgan Stanley and Goldman Sachs as joint lead underwriters for its initial public offering, which could value the company at $2 trillion.

Morgan Stanley is expected to receive the “left lead” position, responsible for overall listing strategy, while Goldman Sachs is expected to serve as “stabilization agent,” responsible for maintaining share price in early trading.

Anthropic initially expected to file its IPO registration statement with the US Securities and Exchange Commission as early as next week, with a listing in late September to early October. But some observers believe the timeline could slip, with marketing possibly beginning in mid-October and listing completing in November before the US midterm elections.

Investors expect Anthropic’s valuation to jump from its current over $900 billion to over $2 trillion at listing. If completed, this would be the largest IPO in history, surpassing SpaceX’s $86 billion raise at a $1.78 trillion valuation in June.

Anthropic’s annualized revenue was $65 billion in July, up significantly from $47 billion in May, but below investors’ most optimistic expectations of $80 billion. Rival OpenAI is expected to enter the market early next year, which is seen as a variable in determining the offering price.

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