Anthropic's $2T IPO: Morgan Stanley Leads as Goldman Sets Stabilisation Role

Anthropic is nearing a $2 trillion IPO, with Morgan Stanley favored for the lead left advisory and Goldman Sachs expected to act as stabilisation agent as other banks like JPMorgan, Citigroup and Barclays vie for prominent roles. The filing could come as soon as next week, with a roadshow likely in late September and a New York listing potentially in late September or early October. Investors expect a valuation around $2 trillion, well above Anthropic’s current valuation of just over $900 billion, which would make it one of the largest IPOs ever. The company’s July revenue ran at about a $65 billion annualized pace, below some bullish forecasts of over $80 billion, and OpenAI remains a key rival in the AI race.