Anthropic Nears Selection of Morgan Stanley, Goldman Sachs for IPO, FT Reports

Artificial intelligence startup Anthropic is reportedly close to selecting Morgan Stanley and Goldman Sachs to lead its highly anticipated initial public offering, a critical step toward a public market debut. The development, which would bring one of OpenAI's primary competitors to the stock market, was first reported by the Financial Times.

Underwriting Syndicate Takes Shape

According to the report, the lineup of investment banks for the potential offering is nearing finalization, with specific key roles already being assigned.

• Morgan Stanley is reportedly in "pole position" to secure the coveted 'lead left' role, the top underwriter responsible for managing the overall IPO process.
• Goldman Sachs is expected to be appointed as the stabilization agent, a crucial function tasked with supporting the stock's price in the initial trading period after it lists.
• Other major banks, including JPMorgan, Citigroup, and Barclays, are also set to receive leading roles in the underwriting syndicate.

Market Implications of a Landmark AI Listing

The assembly of a top-tier group of Wall Street banks underscores the significant scale and investor interest anticipated for Anthropic's public offering. An IPO would be a landmark event for the generative AI sector, providing public market investors with a new vehicle for direct exposure to a leading large language model developer.

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This move signals that Anthropic is formally preparing for a transition from a privately funded startup to a publicly traded company. The selection of underwriters is a foundational step that precedes regulatory filings with the Securities and Exchange Commission and the formal marketing of the stock to institutional investors.

Next Steps in the Process

While the appointment of an underwriting team is a major milestone, key details about the potential IPO remain undisclosed. The timeline for the listing, the target valuation, and the amount of capital Anthropic intends to raise have not yet been made public.

Anthropic and the investment banks named in the report have not yet issued official comments on the matter. The final composition of the banking syndicate and the timing of the offering could still be subject to change.