Anthropic's Mega IPO Takes Shape as Banks Line Up for Fees

Anthropic, a leading player in artificial intelligence (AI), is gearing up for its highly anticipated IPO. The company's move to go public has set off a flurry of activity, with details emerging about the banks involved and the prospectus filing process.

Morgan Stanley and Goldman Sachs will lead the underwriting process, with Morgan Stanley taking on the 'lead left' role and Goldman Sachs serving as stabilization agent. Other banks expected to participate include Barclays and JPMorgan, which are likely to share over $500 million in fees.

The prospectus filing, also known as the S1 document, will provide a comprehensive overview of Anthropic's business operations, including its revenue and profit projections. The company has seen significant growth, with its revenue run rate reaching $65 billion at the end of July, a sevenfold increase from last year.

Anthropic's management believes that the total addressable market for AI is a staggering $30 trillion, surpassing even SpaceX's estimated market size of $28 trillion. The company has also inked deals worth billions with other firms, including a $1.5 billion monthly contract with SpaceX for computing capacity.

The IPO will benefit some of Anthropic's largest investors, including Amazon, Google, and Nvidia, which collectively hold significant stakes in the company.