Morgan Stanley, Goldman near top roles on Anthropic’s $2tn IPO
Morgan Stanley and Goldman Sachs are close to taking leading roles on Anthropic’s planned $2tn initial public offering (IPO), the Financial Times has reported.
Anthropic is preparing to file its IPO papers as early as next week, although people familiar with the matter said the timetable could still move.
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Morgan Stanley is currently the frontrunner for the “lead left” role, according to four people cited by the FT. That role is typically the most senior advisory position on an IPO.
Goldman is expected to act as stabilisation agent, handling the first sessions of trading once Anthropic lists.
Morgan Stanley has also recently led talks with potential investors over the valuation at which Anthropic could sell shares, two people told the newspaper.
However, those people said the choice of Morgan Stanley for the lead-left role has not yet been finalised and could still change.
The FT has previously reported that several Anthropic investors expect the company to float at a valuation of $2tn or more.
JPMorgan, Citigroup and Barclays are also expected to take prominent roles on the deal, having already provided debt financing to Anthropic.
The planned IPO comes after SpaceX completed an $86bn listing at a $1.78tn valuation. Goldman held the leading role on SpaceX’s June offering, while Morgan Stanley was the stabilisation agent.
Both banks received $100mn each from the $500mn fee pool shared by more than 20 lenders on that deal.
Morgan Stanley and Goldman are also expected to compete for roles on a future IPO by Anthropic rival OpenAI, which is expected to go public early next year.
People familiar with the matter said Anthropic is preparing to begin its roadshow towards the end of September.
