News & Updates
The latest news and updates from companies in the WLTH portfolio.
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Anthropic researcher quits; says OpenAI, Anthropic are 'gambling with our lives' in AI race
Jacob Coxon, who worked on pretraining at both firms, says labs are racing towards self-improving superintelligence without adequate understanding, restraint or coordination New Delhi: An artificial intelligence researcher who has worked at both OpenAI and Anthropic has resigned from Anthropic with an extraordinary warning that the two leading AI companies are racing towards self-improving superintelligence while taking risks that could have consequences for humanity. Jacob Coxon said on Tuesday that he had resigned from Anthropic after spending the past three years working on pretraining research across OpenAI and Anthropic. "Neither company is acting responsibly," Coxon wrote in a series of posts on X, accusing the two companies of racing towards self-improving superintelligence and "gambling with our lives". Coxon is not an outside commentator on the AI industry. He has worked directly on the technology behind frontier models. OpenAI lists him among the core contributors to GPT-4o, while published research also records his work on model interpretability. His departure from Anthropic and previous work at OpenAI have also been independently reported. His most alarming allegation concerns what researchers and executives inside AI companies themselves believe about the technology they are developing. According to Coxon, people building advanced AI genuinely believe that it could pose an existential threat before the end of the decade. He claimed that some executives and senior researchers moderate their language when speaking publicly, but express considerably greater fear in private. That assertion about private conversations cannot be independently verified. But Coxon argued that the concern is serious enough that researchers should question whether continuing to accelerate AI development merely because competing laboratories are doing the same is defensible. He drew a distinction between the cultures at his two former employers. Coxon alleged that many people at OpenAI have not fully internalised what he described as the "civilizational stakes" involved. At Anthropic, he said, the dangers are better understood, but the company remains locked in a race because it believes that if it slows down, another organisation may reach advanced AI first and handle it less responsibly. 'Do not underestimate the power' Coxon warned that coming AI systems could become superhuman across important domains, including cybersecurity and scientific research, and eventually acquire significant economic and technological power. He urged researchers inside frontier AI laboratories to consider whether they were prepared to initiate training runs for systems potentially more capable than humans without first having a rigorous understanding of how such systems reason and behave. His intervention comes at a particularly sensitive moment for the AI industry. A recent incident involving OpenAI agents has intensified the debate over whether safety mechanisms are keeping pace with rapidly increasing capabilities. During a cybersecurity evaluation, more than 1,200 AI agents reportedly found ways to coordinate, while hundreds participated in an intrusion involving AI platform Hugging Face after escaping intended testing constraints. OpenAI later published technical reports on the episode, including an external assessment. Coxon described that episode as a "warning shot" and argued that incidents of this kind could make agreements among American AI laboratories to slow development more politically and commercially viable. However, he said avoiding a global race could require considerably stronger intervention, potentially including a temporary halt on further improvements in model capabilities. Companies acknowledge catastrophic risks, but continue development Both OpenAI and Anthropic publicly acknowledge that increasingly powerful AI systems can create catastrophic risks. Anthropic operates a Responsible Scaling Policy that sets progressively stronger safety requirements as models acquire more dangerous capabilities. Its latest framework explicitly covers catastrophic misuse, autonomous behaviour, security, alignment and preparedness. OpenAI similarly maintains a Preparedness Framework covering severe risks including cyber capabilities, biological and chemical threats, harmful manipulation and loss of control. Its latest governance framework says risk assessments and safeguards should accompany advances in frontier models. Coxon's criticism is therefore not that the companies deny the risks. His argument is more fundamental: that recognising potentially catastrophic risks while continuing to race towards increasingly capable systems is itself an inadequate response. He said he remained optimistic that coordination was possible, particularly among US laboratories, but argued that decisions involving technologies capable of transforming or endangering civilisation should not effectively be determined by competitive dynamics inside private companies. His resignation adds an unusually direct insider voice to a debate that has generally been conducted through safety frameworks, academic papers and carefully qualified statements from AI executives. The world would watch who should decide how quickly systems approaching or surpassing human capabilities are developed, and what level of uncertainty is acceptable before that race is slowed down?
Viral Claim Says Nationalism Killed Anthropic's $6B Israeli Deal, But Evidence Is Lacking
JERUSALEM (VINnews) - Anthropic has walked away from a potential $6 billion acquisition of Israeli AI startup Decart, prompting widespread speculation in Israel about what caused the deal to collapse. One explanation that gained traction on Israeli social media and among Israeli tech commentators, including Hillel Fuld, was that Decart's founders wanted the company to remain in Israel rather than move key operations to San Francisco. That narrative was widely celebrated as a story of Israeli founders refusing to leave the country. But there is no public evidence establishing that nationalism was the reason Anthropic abandoned the deal. Bloomberg reported that Anthropic had conducted extensive due diligence before deciding not to proceed. Other reporting has raised questions about Decart's technology, business model and valuation, offering a potentially very different explanation for the collapse. Decart had been valued at about $4 billion in its most recent funding round, making the reported $6 billion-plus acquisition proposal a substantial premium. Neither Anthropic nor Decart has publicly explained why the deal fell apart. For now, the claim that the founders rejected the deal because they wanted to keep Decart in Israel remains unverified speculation -- while the actual reason Anthropic walked away remains unknown.
OpenAI and Anthropic bankers chase top credit ratings to open the bond market
Bankers steering OpenAI and Anthropic toward stock-market listings are pushing for both companies to secure investment-grade credit ratings soon after they go public, according to the Financial Times. The reasoning behind this point is straightforward: acquiring higher ratings would help gain more access to corporate bond investors, lower borrowing costs, and provide the two AI. . .
OpenAI and Anthropic bankers chase top credit ratings to open the bond market - Cryptopolitan
The risk is that the borrowing is happening now while the returns to justify it are still years away. Bankers steering OpenAI and Anthropic toward stock-market listings are pushing for both companies to secure investment-grade credit ratings soon after they go public, according to the Financial Times. The reasoning behind this point is straightforward: acquiring higher ratings would help gain more access to corporate bond investors, lower borrowing costs, and provide the two AI laboratories with one more way of acquiring funding for their expensive infrastructure without needing to constantly issue new stock. A rating is the key to institutional money Having an investment-grade classification is important because many large investors in fixed-income securities, such as pension funds and insurance companies, have limits on the amount of debt with lower rating that is allowed in their portfolios. Generally speaking, the ratings of issued bonds do not have to be investment-grade, but having this rating opens up the market significantly and lowers financing costs. In this case, OpenAI and Anthropic will get a significant advantage as they near their IPO. At the same time, this development is also indicative of overall changes in sources of financing of the AI boom. According to a report from the Bank for International Settlements published in January, foreseeable needs for investments in AI technology have grown too big to be financed solely from cash flow, and instead companies have been turning to debt and private credit markets. In these new circumstances, access to investment-grade borrowing will cease to be a mere episode in the company's history and will become a deciding factor in the competition for computing power. The buildout is turning to borrowed money The magnitude of the AI race is quite impressive, although various forecasts look into different segments of the market. Goldman Sachs Research predicts that by 2026, the total amount of funds invested globally in AI will amount to more than $1 trillion, with $581 billion in the US alone. According to economist Joseph Briggs, global investments in AI since 2022 would exceed $1.8 trillion by the end of 2026. LSEG estimates that the five biggest US hyperscalers will spend around $720 billion in capital in total in 2026. PwC adopts a longer view, estimating that total capital expenditures on global data centers until 2050 will equal to $31.6 trillion, with annual spending starting at $800 billion in 2026 and topping at $1.8 trillion in 2050, due to server, GPU, and other equipment replacements every four to six years. This provides context for the importance of bond-market access. A company that can borrow cheaply and repeatedly often has more possibilities to finance more computing power through borrowing instead of diluting its shares, allowing it to put even greater distance between the top frontier companies and smaller competitors. Why the timing worries S&P The key question is what the borrowing is anchored on in the first place. In a report released on September 3, entitled "Credit Outlook for Hyperscalers: A Temperature Check," S&P Global Ratings pointed out that capital expenditure is increasing at a higher rate than originally anticipated, financing structures are becoming more and more complicated and less transparent and that returns from borrowing may take years to become available. S&P estimates the six largest U.S. hyperscalers will spend more than $7 trillion on data centers and AI-related capex from 2025 through 2030. This is the core challenge: businesses are acquiring financing today against the revenues and productivity gains that are yet to be proven. In the same way, PwC has cautioned about the possibility that slower AI adoption or weaker pricing may complicate the process of financing the later stages of AI buildout. As Cryptopolitan has pointed out previously, the valuation established by the first major public AI firm may set a precedent for the rest of the industry, consequently making it more important both in equity and debt terms. Valuations already price in a landmark listing Private-market estimates are already extreme. DeFiLlama data cited by Cryptopolitan on August 28 placed Anthropic at about $1.38 trillion and OpenAI at roughly $900 billion. Those figures are tracker estimates rather than company-announced funding valuations, but they show how aggressively investors are pricing the sector. If either company pairs a blockbuster IPO with investment-grade credit, the result would be more than a financing milestone. It would test whether public markets are willing to fund frontier AI through both equity and large-scale debt -- and how much risk investors are prepared to accept for that growth.
Anthropic's $2 trillion IPO could test the limits of AI mania
Anthropic might soon test how much Wall Street actually believes in the artificial-intelligence boom. The Claude maker is nearing decisions on key banking roles for an IPO that investors expect to value the company at $2 trillion or more, according to the Financial Times. Morgan Stanley (MS) seems likely to take the "lead left" position, while Goldman Sachs (GS) will oversee stabilization after trading. That would be an amazing price, even by AI norms. Anthropic raised $65 billion in additional cash in May, when it was valued at $965 billion. That would mean a public value of $2 trillion, a gain of almost 107% in a few months. And that's the whole tale. Anthropic isn't only getting ready for an IPO. It may be asking public investors to bless one of the quickest valuation increases in business history. Anthropic's $2 trillion number changes the IPO stakes Morgan Stanley has been discussing share prices with potential Anthropic investors, according to the Financial Times, but its lead role is still unclear. JPMorgan Chase (JPM), Citigroup (C), and Barclays (BCS) should also gain significant positions after financing Anthropic. The "lead left" position is important because the bank in the position often has considerable influence on the price, the allocation of investors, and the overall marketing of the offering. But the banks are vying for more than status. Anthropic's $2 trillion valuation would beat the $1.77 trillion value SpaceX obtained when it went public in June, establishing a new record for the IPO market. SpaceX priced its initial offering at $75 billion, but that later grew to $85.7 billion after underwriters exercised their overallotment option. Anthropic itself has moved with surprising speed. The corporation raised $30 billion at a value of $380 billion in February, Reuters reported. A $65 billion round in May put its valuation at $965 billion. At the time, Anthropic estimated its run-rate revenue at more than $47 billion. That implies Anthropic's private value has tripled more than three times since February. Wall Street is betting AI can support another historic IPO The IPO would come at a crucial time for equities in artificial intelligence. SpaceX's blockbuster launch demonstrated investors' appetite to sustain a huge value partially based on aspirations for AI. Anthropic could now be able to take that excitement even further. There's a second award for Wall Street, too. Morgan Stanley and Goldman Sachs are also seen vying for top spots in OpenAI's eventual IPO, the Financial Times said. Landing a high berth on Anthropic might bolster either bank's status as one of the major advisors to the nascent generation of trillion-dollar AI startups. But Anthropic's value is a hard bar to clear. It's been just a few months, yet investors would be paying more than double the company's May value of $2 trillion. That means growth forecasts matter. Anthropic's revenue in July was at an annualized pace of approximately $65 billion, below some investors' more bullish estimates of nearly $80 billion. The competition is heating up, too, as OpenAI has unveiled a new flagship model, with both businesses racing to snatch corporate and developer clients. Bloomberg / Getty Images Anthropic's IPO timeline is already shifting One significant element has changed since the Financial Times first reported the story. The FT indicated Anthropic might publish its prospectus as early as September and begin trading around late September or early October, but Reuters later reported that the timing had slipped. Anthropic is now scheduled to file its prospectus in late September, start promoting the offering around mid-October, and perhaps finish the listing just ahead of the U.S. midterm elections in November. The corporation is also closing on an around $15 billion revolving credit facility that includes Morgan Stanley, Goldman Sachs, JPMorgan, and Citigroup, according to Reuters. It provides the banks with additional financial ties to Anthropic even before the IPO begins. Anthropic could become Wall Street's biggest AI test yet The temptation is to see Anthropic's IPO as another marker of the AI boom. That's what makes the value something other than that. The $2 trillion price tag would require public market investors to back a corporation that was valued at $380 billion in February and $965 billion in May. But that doesn't mean investors will pass it up. Anthropic's revenue growth, its technology being adopted by companies like Amazon's AI unit, and the fact that it is able to raise huge sums of cash all point to unusually high demand for its technology. But an IPO transforms the crowd. The private investors are counting on years of growth ahead and can pay high prices. At some point, public investors want to see on a quarterly basis that those expectations are being fulfilled. That's why Morgan Stanley and Goldman Sachs could be pushing so hard for the top spots. Anthropic may be one of Wall Street's most renowned transactions. It might also be the most transparent test yet of how far investors will drive the AI boom until pricing itself becomes the danger. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc. This story was originally published September 8, 2026 at 4:03 PM.
Anthropic's $2 trillion IPO could test the limits of AI mania
Anthropic might soon test how much Wall Street actually believes in the artificial-intelligence boom. The Claude maker is nearing decisions on key banking roles for an IPO that investors expect to value the company at $2 trillion or more, according to the Financial Times. Morgan Stanley (MS) seems likely to take the "lead left" position, while Goldman Sachs (GS) will oversee stabilization after trading. That would be an amazing price, even by AI norms. Anthropic raised $65 billion in additional cash in May, when it was valued at $965 billion. That would mean a public value of $2 trillion, a gain of almost 107% in a few months. And that's the whole tale. Anthropic isn't only getting ready for an IPO. It may be asking public investors to bless one of the quickest valuation increases in business history. Anthropic's $2 trillion number changes the IPO stakes Morgan Stanley has been discussing share prices with potential Anthropic investors, according to the Financial Times, but its lead role is still unclear. JPMorgan Chase (JPM), Citigroup (C), and Barclays (BCS) should also gain significant positions after financing Anthropic. The "lead left" position is important because the bank in the position often has considerable influence on the price, the allocation of investors, and the overall marketing of the offering. But the banks are vying for more than status. Anthropic's $2 trillion valuation would beat the $1.77 trillion value SpaceX obtained when it went public in June, establishing a new record for the IPO market. SpaceX priced its initial offering at $75 billion, but that later grew to $85.7 billion after underwriters exercised their overallotment option. Anthropic itself has moved with surprising speed. The corporation raised $30 billion at a value of $380 billion in February, Reuters reported. A $65 billion round in May put its valuation at $965 billion. At the time, Anthropic estimated its run-rate revenue at more than $47 billion. That implies Anthropic's private value has tripled more than three times since February. Wall Street is betting AI can support another historic IPO The IPO would come at a crucial time for equities in artificial intelligence. SpaceX's blockbuster launch demonstrated investors' appetite to sustain a huge value partially based on aspirations for AI. Anthropic could now be able to take that excitement even further. There's a second award for Wall Street, too. Morgan Stanley and Goldman Sachs are also seen vying for top spots in OpenAI's eventual IPO, the Financial Times said. Landing a high berth on Anthropic might bolster either bank's status as one of the major advisors to the nascent generation of trillion-dollar AI startups. But Anthropic's value is a hard bar to clear. It's been just a few months, yet investors would be paying more than double the company's May value of $2 trillion. That means growth forecasts matter. Anthropic's revenue in July was at an annualized pace of approximately $65 billion, below some investors' more bullish estimates of nearly $80 billion. The competition is heating up, too, as OpenAI has unveiled a new flagship model, with both businesses racing to snatch corporate and developer clients. Bloomberg / Getty Images Anthropic's IPO timeline is already shifting One significant element has changed since the Financial Times first reported the story. The FT indicated Anthropic might publish its prospectus as early as September and begin trading around late September or early October, but Reuters later reported that the timing had slipped. Anthropic is now scheduled to file its prospectus in late September, start promoting the offering around mid-October, and perhaps finish the listing just ahead of the U.S. midterm elections in November. The corporation is also closing on an around $15 billion revolving credit facility that includes Morgan Stanley, Goldman Sachs, JPMorgan, and Citigroup, according to Reuters. It provides the banks with additional financial ties to Anthropic even before the IPO begins. Anthropic could become Wall Street's biggest AI test yet The temptation is to see Anthropic's IPO as another marker of the AI boom. That's what makes the value something other than that. The $2 trillion price tag would require public market investors to back a corporation that was valued at $380 billion in February and $965 billion in May. But that doesn't mean investors will pass it up. Anthropic's revenue growth, its technology being adopted by companies like Amazon's AI unit, and the fact that it is able to raise huge sums of cash all point to unusually high demand for its technology. But an IPO transforms the crowd. The private investors are counting on years of growth ahead and can pay high prices. At some point, public investors want to see on a quarterly basis that those expectations are being fulfilled. That's why Morgan Stanley and Goldman Sachs could be pushing so hard for the top spots. Anthropic may be one of Wall Street's most renowned transactions. It might also be the most transparent test yet of how far investors will drive the AI boom until pricing itself becomes the danger. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc. This story was originally published September 8, 2026 at 6:03 PM.
Anthropic's $2 trillion IPO could test the limits of AI mania
Anthropic might soon test how much Wall Street actually believes in the artificial-intelligence boom. The Claude maker is nearing decisions on key banking roles for an IPO that investors expect to value the company at $2 trillion or more, according to the Financial Times. Morgan Stanley (MS) seems likely to take the "lead left" position, while Goldman Sachs (GS) will oversee stabilization after trading. That would be an amazing price, even by AI norms. Anthropic raised $65 billion in additional cash in May, when it was valued at $965 billion. That would mean a public value of $2 trillion, a gain of almost 107% in a few months. And that's the whole tale. Anthropic isn't only getting ready for an IPO. It may be asking public investors to bless one of the quickest valuation increases in business history. Anthropic's $2 trillion number changes the IPO stakes Morgan Stanley has been discussing share prices with potential Anthropic investors, according to the Financial Times, but its lead role is still unclear. JPMorgan Chase (JPM), Citigroup (C), and Barclays (BCS) should also gain significant positions after financing Anthropic. The "lead left" position is important because the bank in the position often has considerable influence on the price, the allocation of investors, and the overall marketing of the offering. But the banks are vying for more than status. Anthropic's $2 trillion valuation would beat the $1.77 trillion value SpaceX obtained when it went public in June, establishing a new record for the IPO market. SpaceX priced its initial offering at $75 billion, but that later grew to $85.7 billion after underwriters exercised their overallotment option. Anthropic itself has moved with surprising speed. The corporation raised $30 billion at a value of $380 billion in February, Reuters reported. A $65 billion round in May put its valuation at $965 billion. At the time, Anthropic estimated its run-rate revenue at more than $47 billion. That implies Anthropic's private value has tripled more than three times since February. Wall Street is betting AI can support another historic IPO The IPO would come at a crucial time for equities in artificial intelligence. SpaceX's blockbuster launch demonstrated investors' appetite to sustain a huge value partially based on aspirations for AI. Anthropic could now be able to take that excitement even further. There's a second award for Wall Street, too. Morgan Stanley and Goldman Sachs are also seen vying for top spots in OpenAI's eventual IPO, the Financial Times said. Landing a high berth on Anthropic might bolster either bank's status as one of the major advisors to the nascent generation of trillion-dollar AI startups. But Anthropic's value is a hard bar to clear. It's been just a few months, yet investors would be paying more than double the company's May value of $2 trillion. That means growth forecasts matter. Anthropic's revenue in July was at an annualized pace of approximately $65 billion, below some investors' more bullish estimates of nearly $80 billion. The competition is heating up, too, as OpenAI has unveiled a new flagship model, with both businesses racing to snatch corporate and developer clients. Bloomberg / Getty Images Anthropic's IPO timeline is already shifting One significant element has changed since the Financial Times first reported the story. The FT indicated Anthropic might publish its prospectus as early as September and begin trading around late September or early October, but Reuters later reported that the timing had slipped. Anthropic is now scheduled to file its prospectus in late September, start promoting the offering around mid-October, and perhaps finish the listing just ahead of the U.S. midterm elections in November. The corporation is also closing on an around $15 billion revolving credit facility that includes Morgan Stanley, Goldman Sachs, JPMorgan, and Citigroup, according to Reuters. It provides the banks with additional financial ties to Anthropic even before the IPO begins. Anthropic could become Wall Street's biggest AI test yet The temptation is to see Anthropic's IPO as another marker of the AI boom. That's what makes the value something other than that. The $2 trillion price tag would require public market investors to back a corporation that was valued at $380 billion in February and $965 billion in May. But that doesn't mean investors will pass it up. Anthropic's revenue growth, its technology being adopted by companies like Amazon's AI unit, and the fact that it is able to raise huge sums of cash all point to unusually high demand for its technology. But an IPO transforms the crowd. The private investors are counting on years of growth ahead and can pay high prices. At some point, public investors want to see on a quarterly basis that those expectations are being fulfilled. That's why Morgan Stanley and Goldman Sachs could be pushing so hard for the top spots. Anthropic may be one of Wall Street's most renowned transactions. It might also be the most transparent test yet of how far investors will drive the AI boom until pricing itself becomes the danger. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc. This story was originally published September 8, 2026 at 7:03 PM.
Anthropic's $2 trillion IPO could test the limits of AI mania
Anthropic might soon test how much Wall Street actually believes in the artificial-intelligence boom. The Claude maker is nearing decisions on key banking roles for an IPO that investors expect to value the company at $2 trillion or more, according to the Financial Times. Morgan Stanley (MS) seems likely to take the "lead left" position, while Goldman Sachs (GS) will oversee stabilization after trading. That would be an amazing price, even by AI norms. Anthropic raised $65 billion in additional cash in May, when it was valued at $965 billion. That would mean a public value of $2 trillion, a gain of almost 107% in a few months. And that's the whole tale. Anthropic isn't only getting ready for an IPO. It may be asking public investors to bless one of the quickest valuation increases in business history. Anthropic's $2 trillion number changes the IPO stakes Morgan Stanley has been discussing share prices with potential Anthropic investors, according to the Financial Times, but its lead role is still unclear. JPMorgan Chase (JPM), Citigroup (C), and Barclays (BCS) should also gain significant positions after financing Anthropic. The "lead left" position is important because the bank in the position often has considerable influence on the price, the allocation of investors, and the overall marketing of the offering. But the banks are vying for more than status. Anthropic's $2 trillion valuation would beat the $1.77 trillion value SpaceX obtained when it went public in June, establishing a new record for the IPO market. SpaceX priced its initial offering at $75 billion, but that later grew to $85.7 billion after underwriters exercised their overallotment option. Anthropic itself has moved with surprising speed. The corporation raised $30 billion at a value of $380 billion in February, Reuters reported. A $65 billion round in May put its valuation at $965 billion. At the time, Anthropic estimated its run-rate revenue at more than $47 billion. That implies Anthropic's private value has tripled more than three times since February. Wall Street is betting AI can support another historic IPO The IPO would come at a crucial time for equities in artificial intelligence. SpaceX's blockbuster launch demonstrated investors' appetite to sustain a huge value partially based on aspirations for AI. Anthropic could now be able to take that excitement even further. There's a second award for Wall Street, too. Morgan Stanley and Goldman Sachs are also seen vying for top spots in OpenAI's eventual IPO, the Financial Times said. Landing a high berth on Anthropic might bolster either bank's status as one of the major advisors to the nascent generation of trillion-dollar AI startups. But Anthropic's value is a hard bar to clear. It's been just a few months, yet investors would be paying more than double the company's May value of $2 trillion. That means growth forecasts matter. Anthropic's revenue in July was at an annualized pace of approximately $65 billion, below some investors' more bullish estimates of nearly $80 billion. The competition is heating up, too, as OpenAI has unveiled a new flagship model, with both businesses racing to snatch corporate and developer clients. Bloomberg / Getty Images Anthropic's IPO timeline is already shifting One significant element has changed since the Financial Times first reported the story. The FT indicated Anthropic might publish its prospectus as early as September and begin trading around late September or early October, but Reuters later reported that the timing had slipped. Anthropic is now scheduled to file its prospectus in late September, start promoting the offering around mid-October, and perhaps finish the listing just ahead of the U.S. midterm elections in November. The corporation is also closing on an around $15 billion revolving credit facility that includes Morgan Stanley, Goldman Sachs, JPMorgan, and Citigroup, according to Reuters. It provides the banks with additional financial ties to Anthropic even before the IPO begins. Anthropic could become Wall Street's biggest AI test yet The temptation is to see Anthropic's IPO as another marker of the AI boom. That's what makes the value something other than that. The $2 trillion price tag would require public market investors to back a corporation that was valued at $380 billion in February and $965 billion in May. But that doesn't mean investors will pass it up. Anthropic's revenue growth, its technology being adopted by companies like Amazon's AI unit, and the fact that it is able to raise huge sums of cash all point to unusually high demand for its technology. But an IPO transforms the crowd. The private investors are counting on years of growth ahead and can pay high prices. At some point, public investors want to see on a quarterly basis that those expectations are being fulfilled. That's why Morgan Stanley and Goldman Sachs could be pushing so hard for the top spots. Anthropic may be one of Wall Street's most renowned transactions. It might also be the most transparent test yet of how far investors will drive the AI boom until pricing itself becomes the danger. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc. This story was originally published September 8, 2026 at 5:03 PM.
Anthropic's $2 trillion IPO could test the limits of AI mania
Anthropic might soon test how much Wall Street actually believes in the artificial-intelligence boom. The Claude maker is nearing decisions on key banking roles for an IPO that investors expect to value the company at $2 trillion or more, according to the Financial Times. Morgan Stanley (MS) seems likely to take the "lead left" position, while Goldman Sachs (GS) will oversee stabilization after trading. That would be an amazing price, even by AI norms. Anthropic raised $65 billion in additional cash in May, when it was valued at $965 billion. That would mean a public value of $2 trillion, a gain of almost 107% in a few months. And that's the whole tale. Anthropic isn't only getting ready for an IPO. It may be asking public investors to bless one of the quickest valuation increases in business history. Anthropic's $2 trillion number changes the IPO stakes Morgan Stanley has been discussing share prices with potential Anthropic investors, according to the Financial Times, but its lead role is still unclear. JPMorgan Chase (JPM), Citigroup (C), and Barclays (BCS) should also gain significant positions after financing Anthropic. The "lead left" position is important because the bank in the position often has considerable influence on the price, the allocation of investors, and the overall marketing of the offering. But the banks are vying for more than status. Anthropic's $2 trillion valuation would beat the $1.77 trillion value SpaceX obtained when it went public in June, establishing a new record for the IPO market. SpaceX priced its initial offering at $75 billion, but that later grew to $85.7 billion after underwriters exercised their overallotment option. Anthropic itself has moved with surprising speed. The corporation raised $30 billion at a value of $380 billion in February, Reuters reported. A $65 billion round in May put its valuation at $965 billion. At the time, Anthropic estimated its run-rate revenue at more than $47 billion. That implies Anthropic's private value has tripled more than three times since February. Wall Street is betting AI can support another historic IPO The IPO would come at a crucial time for equities in artificial intelligence. SpaceX's blockbuster launch demonstrated investors' appetite to sustain a huge value partially based on aspirations for AI. Anthropic could now be able to take that excitement even further. There's a second award for Wall Street, too. Morgan Stanley and Goldman Sachs are also seen vying for top spots in OpenAI's eventual IPO, the Financial Times said. Landing a high berth on Anthropic might bolster either bank's status as one of the major advisors to the nascent generation of trillion-dollar AI startups. But Anthropic's value is a hard bar to clear. It's been just a few months, yet investors would be paying more than double the company's May value of $2 trillion. That means growth forecasts matter. Anthropic's revenue in July was at an annualized pace of approximately $65 billion, below some investors' more bullish estimates of nearly $80 billion. The competition is heating up, too, as OpenAI has unveiled a new flagship model, with both businesses racing to snatch corporate and developer clients. Bloomberg / Getty Images Anthropic's IPO timeline is already shifting One significant element has changed since the Financial Times first reported the story. The FT indicated Anthropic might publish its prospectus as early as September and begin trading around late September or early October, but Reuters later reported that the timing had slipped. Anthropic is now scheduled to file its prospectus in late September, start promoting the offering around mid-October, and perhaps finish the listing just ahead of the U.S. midterm elections in November. The corporation is also closing on an around $15 billion revolving credit facility that includes Morgan Stanley, Goldman Sachs, JPMorgan, and Citigroup, according to Reuters. It provides the banks with additional financial ties to Anthropic even before the IPO begins. Anthropic could become Wall Street's biggest AI test yet The temptation is to see Anthropic's IPO as another marker of the AI boom. That's what makes the value something other than that. The $2 trillion price tag would require public market investors to back a corporation that was valued at $380 billion in February and $965 billion in May. But that doesn't mean investors will pass it up. Anthropic's revenue growth, its technology being adopted by companies like Amazon's AI unit, and the fact that it is able to raise huge sums of cash all point to unusually high demand for its technology. But an IPO transforms the crowd. The private investors are counting on years of growth ahead and can pay high prices. At some point, public investors want to see on a quarterly basis that those expectations are being fulfilled. That's why Morgan Stanley and Goldman Sachs could be pushing so hard for the top spots. Anthropic may be one of Wall Street's most renowned transactions. It might also be the most transparent test yet of how far investors will drive the AI boom until pricing itself becomes the danger. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc. This story was originally published September 8, 2026 at 4:03 PM.
Anthropic's $2 trillion IPO could test the limits of AI mania
Anthropic might soon test how much Wall Street actually believes in the artificial-intelligence boom. The Claude maker is nearing decisions on key banking roles for an IPO that investors expect to value the company at $2 trillion or more, according to the Financial Times. Morgan Stanley (MS) seems likely to take the "lead left" position, while Goldman Sachs (GS) will oversee stabilization after trading. That would be an amazing price, even by AI norms. Anthropic raised $65 billion in additional cash in May, when it was valued at $965 billion. That would mean a public value of $2 trillion, a gain of almost 107% in a few months. And that's the whole tale. Anthropic isn't only getting ready for an IPO. It may be asking public investors to bless one of the quickest valuation increases in business history. Anthropic's $2 trillion number changes the IPO stakes Morgan Stanley has been discussing share prices with potential Anthropic investors, according to the Financial Times, but its lead role is still unclear. JPMorgan Chase (JPM), Citigroup (C), and Barclays (BCS) should also gain significant positions after financing Anthropic. The "lead left" position is important because the bank in the position often has considerable influence on the price, the allocation of investors, and the overall marketing of the offering. But the banks are vying for more than status. Anthropic's $2 trillion valuation would beat the $1.77 trillion value SpaceX obtained when it went public in June, establishing a new record for the IPO market. SpaceX priced its initial offering at $75 billion, but that later grew to $85.7 billion after underwriters exercised their overallotment option. Anthropic itself has moved with surprising speed. The corporation raised $30 billion at a value of $380 billion in February, Reuters reported. A $65 billion round in May put its valuation at $965 billion. At the time, Anthropic estimated its run-rate revenue at more than $47 billion. That implies Anthropic's private value has tripled more than three times since February. Wall Street is betting AI can support another historic IPO The IPO would come at a crucial time for equities in artificial intelligence. SpaceX's blockbuster launch demonstrated investors' appetite to sustain a huge value partially based on aspirations for AI. Anthropic could now be able to take that excitement even further. There's a second award for Wall Street, too. Morgan Stanley and Goldman Sachs are also seen vying for top spots in OpenAI's eventual IPO, the Financial Times said. Landing a high berth on Anthropic might bolster either bank's status as one of the major advisors to the nascent generation of trillion-dollar AI startups. But Anthropic's value is a hard bar to clear. It's been just a few months, yet investors would be paying more than double the company's May value of $2 trillion. That means growth forecasts matter. Anthropic's revenue in July was at an annualized pace of approximately $65 billion, below some investors' more bullish estimates of nearly $80 billion. The competition is heating up, too, as OpenAI has unveiled a new flagship model, with both businesses racing to snatch corporate and developer clients. Bloomberg / Getty Images Anthropic's IPO timeline is already shifting One significant element has changed since the Financial Times first reported the story. The FT indicated Anthropic might publish its prospectus as early as September and begin trading around late September or early October, but Reuters later reported that the timing had slipped. Anthropic is now scheduled to file its prospectus in late September, start promoting the offering around mid-October, and perhaps finish the listing just ahead of the U.S. midterm elections in November. The corporation is also closing on an around $15 billion revolving credit facility that includes Morgan Stanley, Goldman Sachs, JPMorgan, and Citigroup, according to Reuters. It provides the banks with additional financial ties to Anthropic even before the IPO begins. Anthropic could become Wall Street's biggest AI test yet The temptation is to see Anthropic's IPO as another marker of the AI boom. That's what makes the value something other than that. The $2 trillion price tag would require public market investors to back a corporation that was valued at $380 billion in February and $965 billion in May. But that doesn't mean investors will pass it up. Anthropic's revenue growth, its technology being adopted by companies like Amazon's AI unit, and the fact that it is able to raise huge sums of cash all point to unusually high demand for its technology. But an IPO transforms the crowd. The private investors are counting on years of growth ahead and can pay high prices. At some point, public investors want to see on a quarterly basis that those expectations are being fulfilled. That's why Morgan Stanley and Goldman Sachs could be pushing so hard for the top spots. Anthropic may be one of Wall Street's most renowned transactions. It might also be the most transparent test yet of how far investors will drive the AI boom until pricing itself becomes the danger. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc. This story was originally published September 8, 2026 at 7:03 PM.
Anthropic's $2 trillion IPO could test the limits of AI mania
Anthropic might soon test how much Wall Street actually believes in the artificial-intelligence boom. The Claude maker is nearing decisions on key banking roles for an IPO that investors expect to value the company at $2 trillion or more, according to the Financial Times. Morgan Stanley (MS) seems likely to take the "lead left" position, while Goldman Sachs (GS) will oversee stabilization after trading. That would be an amazing price, even by AI norms. Anthropic raised $65 billion in additional cash in May, when it was valued at $965 billion. That would mean a public value of $2 trillion, a gain of almost 107% in a few months. And that's the whole tale. Anthropic isn't only getting ready for an IPO. It may be asking public investors to bless one of the quickest valuation increases in business history. Anthropic's $2 trillion number changes the IPO stakes Morgan Stanley has been discussing share prices with potential Anthropic investors, according to the Financial Times, but its lead role is still unclear. JPMorgan Chase (JPM), Citigroup (C), and Barclays (BCS) should also gain significant positions after financing Anthropic. The "lead left" position is important because the bank in the position often has considerable influence on the price, the allocation of investors, and the overall marketing of the offering. But the banks are vying for more than status. Anthropic's $2 trillion valuation would beat the $1.77 trillion value SpaceX obtained when it went public in June, establishing a new record for the IPO market. SpaceX priced its initial offering at $75 billion, but that later grew to $85.7 billion after underwriters exercised their overallotment option. Anthropic itself has moved with surprising speed. The corporation raised $30 billion at a value of $380 billion in February, Reuters reported. A $65 billion round in May put its valuation at $965 billion. At the time, Anthropic estimated its run-rate revenue at more than $47 billion. That implies Anthropic's private value has tripled more than three times since February. Wall Street is betting AI can support another historic IPO The IPO would come at a crucial time for equities in artificial intelligence. SpaceX's blockbuster launch demonstrated investors' appetite to sustain a huge value partially based on aspirations for AI. Anthropic could now be able to take that excitement even further. There's a second award for Wall Street, too. Morgan Stanley and Goldman Sachs are also seen vying for top spots in OpenAI's eventual IPO, the Financial Times said. Landing a high berth on Anthropic might bolster either bank's status as one of the major advisors to the nascent generation of trillion-dollar AI startups. But Anthropic's value is a hard bar to clear. It's been just a few months, yet investors would be paying more than double the company's May value of $2 trillion. That means growth forecasts matter. Anthropic's revenue in July was at an annualized pace of approximately $65 billion, below some investors' more bullish estimates of nearly $80 billion. The competition is heating up, too, as OpenAI has unveiled a new flagship model, with both businesses racing to snatch corporate and developer clients. Bloomberg / Getty Images Anthropic's IPO timeline is already shifting One significant element has changed since the Financial Times first reported the story. The FT indicated Anthropic might publish its prospectus as early as September and begin trading around late September or early October, but Reuters later reported that the timing had slipped. Anthropic is now scheduled to file its prospectus in late September, start promoting the offering around mid-October, and perhaps finish the listing just ahead of the U.S. midterm elections in November. The corporation is also closing on an around $15 billion revolving credit facility that includes Morgan Stanley, Goldman Sachs, JPMorgan, and Citigroup, according to Reuters. It provides the banks with additional financial ties to Anthropic even before the IPO begins. Anthropic could become Wall Street's biggest AI test yet The temptation is to see Anthropic's IPO as another marker of the AI boom. That's what makes the value something other than that. The $2 trillion price tag would require public market investors to back a corporation that was valued at $380 billion in February and $965 billion in May. But that doesn't mean investors will pass it up. Anthropic's revenue growth, its technology being adopted by companies like Amazon's AI unit, and the fact that it is able to raise huge sums of cash all point to unusually high demand for its technology. But an IPO transforms the crowd. The private investors are counting on years of growth ahead and can pay high prices. At some point, public investors want to see on a quarterly basis that those expectations are being fulfilled. That's why Morgan Stanley and Goldman Sachs could be pushing so hard for the top spots. Anthropic may be one of Wall Street's most renowned transactions. It might also be the most transparent test yet of how far investors will drive the AI boom until pricing itself becomes the danger. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc. This story was originally published September 8, 2026 at 4:03 PM.
Anthropic's $2 trillion IPO could test the limits of AI mania
Anthropic might soon test how much Wall Street actually believes in the artificial-intelligence boom. The Claude maker is nearing decisions on key banking roles for an IPO that investors expect to value the company at $2 trillion or more, according to the Financial Times. Morgan Stanley (MS) seems likely to take the "lead left" position, while Goldman Sachs (GS) will oversee stabilization after trading. That would be an amazing price, even by AI norms. Anthropic raised $65 billion in additional cash in May, when it was valued at $965 billion. That would mean a public value of $2 trillion, a gain of almost 107% in a few months. And that's the whole tale. Anthropic isn't only getting ready for an IPO. It may be asking public investors to bless one of the quickest valuation increases in business history. Anthropic's $2 trillion number changes the IPO stakes Morgan Stanley has been discussing share prices with potential Anthropic investors, according to the Financial Times, but its lead role is still unclear. JPMorgan Chase (JPM), Citigroup (C), and Barclays (BCS) should also gain significant positions after financing Anthropic. The "lead left" position is important because the bank in the position often has considerable influence on the price, the allocation of investors, and the overall marketing of the offering. But the banks are vying for more than status. Anthropic's $2 trillion valuation would beat the $1.77 trillion value SpaceX obtained when it went public in June, establishing a new record for the IPO market. SpaceX priced its initial offering at $75 billion, but that later grew to $85.7 billion after underwriters exercised their overallotment option. Anthropic itself has moved with surprising speed. The corporation raised $30 billion at a value of $380 billion in February, Reuters reported. A $65 billion round in May put its valuation at $965 billion. At the time, Anthropic estimated its run-rate revenue at more than $47 billion. That implies Anthropic's private value has tripled more than three times since February. Wall Street is betting AI can support another historic IPO The IPO would come at a crucial time for equities in artificial intelligence. SpaceX's blockbuster launch demonstrated investors' appetite to sustain a huge value partially based on aspirations for AI. Anthropic could now be able to take that excitement even further. There's a second award for Wall Street, too. Morgan Stanley and Goldman Sachs are also seen vying for top spots in OpenAI's eventual IPO, the Financial Times said. Landing a high berth on Anthropic might bolster either bank's status as one of the major advisors to the nascent generation of trillion-dollar AI startups. But Anthropic's value is a hard bar to clear. It's been just a few months, yet investors would be paying more than double the company's May value of $2 trillion. That means growth forecasts matter. Anthropic's revenue in July was at an annualized pace of approximately $65 billion, below some investors' more bullish estimates of nearly $80 billion. The competition is heating up, too, as OpenAI has unveiled a new flagship model, with both businesses racing to snatch corporate and developer clients. Bloomberg / Getty Images Anthropic's IPO timeline is already shifting One significant element has changed since the Financial Times first reported the story. The FT indicated Anthropic might publish its prospectus as early as September and begin trading around late September or early October, but Reuters later reported that the timing had slipped. Anthropic is now scheduled to file its prospectus in late September, start promoting the offering around mid-October, and perhaps finish the listing just ahead of the U.S. midterm elections in November. The corporation is also closing on an around $15 billion revolving credit facility that includes Morgan Stanley, Goldman Sachs, JPMorgan, and Citigroup, according to Reuters. It provides the banks with additional financial ties to Anthropic even before the IPO begins. Anthropic could become Wall Street's biggest AI test yet The temptation is to see Anthropic's IPO as another marker of the AI boom. That's what makes the value something other than that. The $2 trillion price tag would require public market investors to back a corporation that was valued at $380 billion in February and $965 billion in May. But that doesn't mean investors will pass it up. Anthropic's revenue growth, its technology being adopted by companies like Amazon's AI unit, and the fact that it is able to raise huge sums of cash all point to unusually high demand for its technology. But an IPO transforms the crowd. The private investors are counting on years of growth ahead and can pay high prices. At some point, public investors want to see on a quarterly basis that those expectations are being fulfilled. That's why Morgan Stanley and Goldman Sachs could be pushing so hard for the top spots. Anthropic may be one of Wall Street's most renowned transactions. It might also be the most transparent test yet of how far investors will drive the AI boom until pricing itself becomes the danger. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc. This story was originally published September 8, 2026 at 6:03 PM.
Anthropic's $2 trillion IPO could test the limits of AI mania
Anthropic might soon test how much Wall Street actually believes in the artificial-intelligence boom. The Claude maker is nearing decisions on key banking roles for an IPO that investors expect to value the company at $2 trillion or more, according to the Financial Times. Morgan Stanley (MS) seems likely to take the "lead left" position, while Goldman Sachs (GS) will oversee stabilization after trading. That would be an amazing price, even by AI norms. Anthropic raised $65 billion in additional cash in May, when it was valued at $965 billion. That would mean a public value of $2 trillion, a gain of almost 107% in a few months. And that's the whole tale. Anthropic isn't only getting ready for an IPO. It may be asking public investors to bless one of the quickest valuation increases in business history. Anthropic's $2 trillion number changes the IPO stakes Morgan Stanley has been discussing share prices with potential Anthropic investors, according to the Financial Times, but its lead role is still unclear. JPMorgan Chase (JPM), Citigroup (C), and Barclays (BCS) should also gain significant positions after financing Anthropic. The "lead left" position is important because the bank in the position often has considerable influence on the price, the allocation of investors, and the overall marketing of the offering. But the banks are vying for more than status. Anthropic's $2 trillion valuation would beat the $1.77 trillion value SpaceX obtained when it went public in June, establishing a new record for the IPO market. SpaceX priced its initial offering at $75 billion, but that later grew to $85.7 billion after underwriters exercised their overallotment option. Anthropic itself has moved with surprising speed. The corporation raised $30 billion at a value of $380 billion in February, Reuters reported. A $65 billion round in May put its valuation at $965 billion. At the time, Anthropic estimated its run-rate revenue at more than $47 billion. That implies Anthropic's private value has tripled more than three times since February. Wall Street is betting AI can support another historic IPO The IPO would come at a crucial time for equities in artificial intelligence. SpaceX's blockbuster launch demonstrated investors' appetite to sustain a huge value partially based on aspirations for AI. Anthropic could now be able to take that excitement even further. There's a second award for Wall Street, too. Morgan Stanley and Goldman Sachs are also seen vying for top spots in OpenAI's eventual IPO, the Financial Times said. Landing a high berth on Anthropic might bolster either bank's status as one of the major advisors to the nascent generation of trillion-dollar AI startups. But Anthropic's value is a hard bar to clear. It's been just a few months, yet investors would be paying more than double the company's May value of $2 trillion. That means growth forecasts matter. Anthropic's revenue in July was at an annualized pace of approximately $65 billion, below some investors' more bullish estimates of nearly $80 billion. The competition is heating up, too, as OpenAI has unveiled a new flagship model, with both businesses racing to snatch corporate and developer clients. Bloomberg / Getty Images Anthropic's IPO timeline is already shifting One significant element has changed since the Financial Times first reported the story. The FT indicated Anthropic might publish its prospectus as early as September and begin trading around late September or early October, but Reuters later reported that the timing had slipped. Anthropic is now scheduled to file its prospectus in late September, start promoting the offering around mid-October, and perhaps finish the listing just ahead of the U.S. midterm elections in November. The corporation is also closing on an around $15 billion revolving credit facility that includes Morgan Stanley, Goldman Sachs, JPMorgan, and Citigroup, according to Reuters. It provides the banks with additional financial ties to Anthropic even before the IPO begins. Anthropic could become Wall Street's biggest AI test yet The temptation is to see Anthropic's IPO as another marker of the AI boom. That's what makes the value something other than that. The $2 trillion price tag would require public market investors to back a corporation that was valued at $380 billion in February and $965 billion in May. But that doesn't mean investors will pass it up. Anthropic's revenue growth, its technology being adopted by companies like Amazon's AI unit, and the fact that it is able to raise huge sums of cash all point to unusually high demand for its technology. But an IPO transforms the crowd. The private investors are counting on years of growth ahead and can pay high prices. At some point, public investors want to see on a quarterly basis that those expectations are being fulfilled. That's why Morgan Stanley and Goldman Sachs could be pushing so hard for the top spots. Anthropic may be one of Wall Street's most renowned transactions. It might also be the most transparent test yet of how far investors will drive the AI boom until pricing itself becomes the danger. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc. This story was originally published September 8, 2026 at 6:03 PM.
Anthropic's $2 trillion IPO could test the limits of AI mania
Anthropic might soon test how much Wall Street actually believes in the artificial-intelligence boom. The Claude maker is nearing decisions on key banking roles for an IPO that investors expect to value the company at $2 trillion or more, according to the Financial Times. Morgan Stanley (MS) seems likely to take the "lead left" position, while Goldman Sachs (GS) will oversee stabilization after trading. That would be an amazing price, even by AI norms. Anthropic raised $65 billion in additional cash in May, when it was valued at $965 billion. That would mean a public value of $2 trillion, a gain of almost 107% in a few months. And that's the whole tale. Anthropic isn't only getting ready for an IPO. It may be asking public investors to bless one of the quickest valuation increases in business history. Anthropic's $2 trillion number changes the IPO stakes Morgan Stanley has been discussing share prices with potential Anthropic investors, according to the Financial Times, but its lead role is still unclear. JPMorgan Chase (JPM), Citigroup (C), and Barclays (BCS) should also gain significant positions after financing Anthropic. The "lead left" position is important because the bank in the position often has considerable influence on the price, the allocation of investors, and the overall marketing of the offering. But the banks are vying for more than status. Anthropic's $2 trillion valuation would beat the $1.77 trillion value SpaceX obtained when it went public in June, establishing a new record for the IPO market. SpaceX priced its initial offering at $75 billion, but that later grew to $85.7 billion after underwriters exercised their overallotment option. Anthropic itself has moved with surprising speed. The corporation raised $30 billion at a value of $380 billion in February, Reuters reported. A $65 billion round in May put its valuation at $965 billion. At the time, Anthropic estimated its run-rate revenue at more than $47 billion. That implies Anthropic's private value has tripled more than three times since February. Wall Street is betting AI can support another historic IPO The IPO would come at a crucial time for equities in artificial intelligence. SpaceX's blockbuster launch demonstrated investors' appetite to sustain a huge value partially based on aspirations for AI. Anthropic could now be able to take that excitement even further. There's a second award for Wall Street, too. Morgan Stanley and Goldman Sachs are also seen vying for top spots in OpenAI's eventual IPO, the Financial Times said. Landing a high berth on Anthropic might bolster either bank's status as one of the major advisors to the nascent generation of trillion-dollar AI startups. But Anthropic's value is a hard bar to clear. It's been just a few months, yet investors would be paying more than double the company's May value of $2 trillion. That means growth forecasts matter. Anthropic's revenue in July was at an annualized pace of approximately $65 billion, below some investors' more bullish estimates of nearly $80 billion. The competition is heating up, too, as OpenAI has unveiled a new flagship model, with both businesses racing to snatch corporate and developer clients. Bloomberg / Getty Images Anthropic's IPO timeline is already shifting One significant element has changed since the Financial Times first reported the story. The FT indicated Anthropic might publish its prospectus as early as September and begin trading around late September or early October, but Reuters later reported that the timing had slipped. Anthropic is now scheduled to file its prospectus in late September, start promoting the offering around mid-October, and perhaps finish the listing just ahead of the U.S. midterm elections in November. The corporation is also closing on an around $15 billion revolving credit facility that includes Morgan Stanley, Goldman Sachs, JPMorgan, and Citigroup, according to Reuters. It provides the banks with additional financial ties to Anthropic even before the IPO begins. Anthropic could become Wall Street's biggest AI test yet The temptation is to see Anthropic's IPO as another marker of the AI boom. That's what makes the value something other than that. The $2 trillion price tag would require public market investors to back a corporation that was valued at $380 billion in February and $965 billion in May. But that doesn't mean investors will pass it up. Anthropic's revenue growth, its technology being adopted by companies like Amazon's AI unit, and the fact that it is able to raise huge sums of cash all point to unusually high demand for its technology. But an IPO transforms the crowd. The private investors are counting on years of growth ahead and can pay high prices. At some point, public investors want to see on a quarterly basis that those expectations are being fulfilled. That's why Morgan Stanley and Goldman Sachs could be pushing so hard for the top spots. Anthropic may be one of Wall Street's most renowned transactions. It might also be the most transparent test yet of how far investors will drive the AI boom until pricing itself becomes the danger. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc. This story was originally published September 8, 2026 at 7:03 PM.
Anthropic's $2 trillion IPO could test the limits of AI mania
Anthropic might soon test how much Wall Street actually believes in the artificial-intelligence boom. The Claude maker is nearing decisions on key banking roles for an IPO that investors expect to value the company at $2 trillion or more, according to the Financial Times. Morgan Stanley (MS) seems likely to take the "lead left" position, while Goldman Sachs (GS) will oversee stabilization after trading. That would be an amazing price, even by AI norms. Anthropic raised $65 billion in additional cash in May, when it was valued at $965 billion. That would mean a public value of $2 trillion, a gain of almost 107% in a few months. And that's the whole tale. Anthropic isn't only getting ready for an IPO. It may be asking public investors to bless one of the quickest valuation increases in business history. Anthropic's $2 trillion number changes the IPO stakes Morgan Stanley has been discussing share prices with potential Anthropic investors, according to the Financial Times, but its lead role is still unclear. JPMorgan Chase (JPM), Citigroup (C), and Barclays (BCS) should also gain significant positions after financing Anthropic. The "lead left" position is important because the bank in the position often has considerable influence on the price, the allocation of investors, and the overall marketing of the offering. But the banks are vying for more than status. Anthropic's $2 trillion valuation would beat the $1.77 trillion value SpaceX obtained when it went public in June, establishing a new record for the IPO market. SpaceX priced its initial offering at $75 billion, but that later grew to $85.7 billion after underwriters exercised their overallotment option. Anthropic itself has moved with surprising speed. The corporation raised $30 billion at a value of $380 billion in February, Reuters reported. A $65 billion round in May put its valuation at $965 billion. At the time, Anthropic estimated its run-rate revenue at more than $47 billion. That implies Anthropic's private value has tripled more than three times since February. Wall Street is betting AI can support another historic IPO The IPO would come at a crucial time for equities in artificial intelligence. SpaceX's blockbuster launch demonstrated investors' appetite to sustain a huge value partially based on aspirations for AI. Anthropic could now be able to take that excitement even further. There's a second award for Wall Street, too. Morgan Stanley and Goldman Sachs are also seen vying for top spots in OpenAI's eventual IPO, the Financial Times said. Landing a high berth on Anthropic might bolster either bank's status as one of the major advisors to the nascent generation of trillion-dollar AI startups. But Anthropic's value is a hard bar to clear. It's been just a few months, yet investors would be paying more than double the company's May value of $2 trillion. That means growth forecasts matter. Anthropic's revenue in July was at an annualized pace of approximately $65 billion, below some investors' more bullish estimates of nearly $80 billion. The competition is heating up, too, as OpenAI has unveiled a new flagship model, with both businesses racing to snatch corporate and developer clients. Bloomberg / Getty Images Anthropic's IPO timeline is already shifting One significant element has changed since the Financial Times first reported the story. The FT indicated Anthropic might publish its prospectus as early as September and begin trading around late September or early October, but Reuters later reported that the timing had slipped. Anthropic is now scheduled to file its prospectus in late September, start promoting the offering around mid-October, and perhaps finish the listing just ahead of the U.S. midterm elections in November. The corporation is also closing on an around $15 billion revolving credit facility that includes Morgan Stanley, Goldman Sachs, JPMorgan, and Citigroup, according to Reuters. It provides the banks with additional financial ties to Anthropic even before the IPO begins. Anthropic could become Wall Street's biggest AI test yet The temptation is to see Anthropic's IPO as another marker of the AI boom. That's what makes the value something other than that. The $2 trillion price tag would require public market investors to back a corporation that was valued at $380 billion in February and $965 billion in May. But that doesn't mean investors will pass it up. Anthropic's revenue growth, its technology being adopted by companies like Amazon's AI unit, and the fact that it is able to raise huge sums of cash all point to unusually high demand for its technology. But an IPO transforms the crowd. The private investors are counting on years of growth ahead and can pay high prices. At some point, public investors want to see on a quarterly basis that those expectations are being fulfilled. That's why Morgan Stanley and Goldman Sachs could be pushing so hard for the top spots. Anthropic may be one of Wall Street's most renowned transactions. It might also be the most transparent test yet of how far investors will drive the AI boom until pricing itself becomes the danger. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc. This story was originally published September 8, 2026 at 4:03 PM.
Anthropic's $2 trillion IPO could test the limits of AI mania
Anthropic might soon test how much Wall Street actually believes in the artificial-intelligence boom. The Claude maker is nearing decisions on key banking roles for an IPO that investors expect to value the company at $2 trillion or more, according to the Financial Times. Morgan Stanley (MS) seems likely to take the "lead left" position, while Goldman Sachs (GS) will oversee stabilization after trading. That would be an amazing price, even by AI norms. Anthropic raised $65 billion in additional cash in May, when it was valued at $965 billion. That would mean a public value of $2 trillion, a gain of almost 107% in a few months. And that's the whole tale. Anthropic isn't only getting ready for an IPO. It may be asking public investors to bless one of the quickest valuation increases in business history. Anthropic's $2 trillion number changes the IPO stakes Morgan Stanley has been discussing share prices with potential Anthropic investors, according to the Financial Times, but its lead role is still unclear. JPMorgan Chase (JPM), Citigroup (C), and Barclays (BCS) should also gain significant positions after financing Anthropic. The "lead left" position is important because the bank in the position often has considerable influence on the price, the allocation of investors, and the overall marketing of the offering. But the banks are vying for more than status. Anthropic's $2 trillion valuation would beat the $1.77 trillion value SpaceX obtained when it went public in June, establishing a new record for the IPO market. SpaceX priced its initial offering at $75 billion, but that later grew to $85.7 billion after underwriters exercised their overallotment option. Anthropic itself has moved with surprising speed. The corporation raised $30 billion at a value of $380 billion in February, Reuters reported. A $65 billion round in May put its valuation at $965 billion. At the time, Anthropic estimated its run-rate revenue at more than $47 billion. That implies Anthropic's private value has tripled more than three times since February. Wall Street is betting AI can support another historic IPO The IPO would come at a crucial time for equities in artificial intelligence. SpaceX's blockbuster launch demonstrated investors' appetite to sustain a huge value partially based on aspirations for AI. Anthropic could now be able to take that excitement even further. There's a second award for Wall Street, too. Morgan Stanley and Goldman Sachs are also seen vying for top spots in OpenAI's eventual IPO, the Financial Times said. Landing a high berth on Anthropic might bolster either bank's status as one of the major advisors to the nascent generation of trillion-dollar AI startups. But Anthropic's value is a hard bar to clear. It's been just a few months, yet investors would be paying more than double the company's May value of $2 trillion. That means growth forecasts matter. Anthropic's revenue in July was at an annualized pace of approximately $65 billion, below some investors' more bullish estimates of nearly $80 billion. The competition is heating up, too, as OpenAI has unveiled a new flagship model, with both businesses racing to snatch corporate and developer clients. Bloomberg / Getty Images Anthropic's IPO timeline is already shifting One significant element has changed since the Financial Times first reported the story. The FT indicated Anthropic might publish its prospectus as early as September and begin trading around late September or early October, but Reuters later reported that the timing had slipped. Anthropic is now scheduled to file its prospectus in late September, start promoting the offering around mid-October, and perhaps finish the listing just ahead of the U.S. midterm elections in November. The corporation is also closing on an around $15 billion revolving credit facility that includes Morgan Stanley, Goldman Sachs, JPMorgan, and Citigroup, according to Reuters. It provides the banks with additional financial ties to Anthropic even before the IPO begins. Anthropic could become Wall Street's biggest AI test yet The temptation is to see Anthropic's IPO as another marker of the AI boom. That's what makes the value something other than that. The $2 trillion price tag would require public market investors to back a corporation that was valued at $380 billion in February and $965 billion in May. But that doesn't mean investors will pass it up. Anthropic's revenue growth, its technology being adopted by companies like Amazon's AI unit, and the fact that it is able to raise huge sums of cash all point to unusually high demand for its technology. But an IPO transforms the crowd. The private investors are counting on years of growth ahead and can pay high prices. At some point, public investors want to see on a quarterly basis that those expectations are being fulfilled. That's why Morgan Stanley and Goldman Sachs could be pushing so hard for the top spots. Anthropic may be one of Wall Street's most renowned transactions. It might also be the most transparent test yet of how far investors will drive the AI boom until pricing itself becomes the danger. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc. This story was originally published September 8, 2026 at 7:03 PM.
Anthropic's $2 trillion IPO could test the limits of AI mania
Anthropic might soon test how much Wall Street actually believes in the artificial-intelligence boom. The Claude maker is nearing decisions on key banking roles for an IPO that investors expect to value the company at $2 trillion or more, according to the Financial Times. Morgan Stanley (MS) seems likely to take the "lead left" position, while Goldman Sachs (GS) will oversee stabilization after trading. That would be an amazing price, even by AI norms. Anthropic raised $65 billion in additional cash in May, when it was valued at $965 billion. That would mean a public value of $2 trillion, a gain of almost 107% in a few months. And that's the whole tale. Anthropic isn't only getting ready for an IPO. It may be asking public investors to bless one of the quickest valuation increases in business history. Anthropic's $2 trillion number changes the IPO stakes Morgan Stanley has been discussing share prices with potential Anthropic investors, according to the Financial Times, but its lead role is still unclear. JPMorgan Chase (JPM), Citigroup (C), and Barclays (BCS) should also gain significant positions after financing Anthropic. The "lead left" position is important because the bank in the position often has considerable influence on the price, the allocation of investors, and the overall marketing of the offering. But the banks are vying for more than status. Anthropic's $2 trillion valuation would beat the $1.77 trillion value SpaceX obtained when it went public in June, establishing a new record for the IPO market. SpaceX priced its initial offering at $75 billion, but that later grew to $85.7 billion after underwriters exercised their overallotment option. Anthropic itself has moved with surprising speed. The corporation raised $30 billion at a value of $380 billion in February, Reuters reported. A $65 billion round in May put its valuation at $965 billion. At the time, Anthropic estimated its run-rate revenue at more than $47 billion. That implies Anthropic's private value has tripled more than three times since February. Wall Street is betting AI can support another historic IPO The IPO would come at a crucial time for equities in artificial intelligence. SpaceX's blockbuster launch demonstrated investors' appetite to sustain a huge value partially based on aspirations for AI. Anthropic could now be able to take that excitement even further. There's a second award for Wall Street, too. Morgan Stanley and Goldman Sachs are also seen vying for top spots in OpenAI's eventual IPO, the Financial Times said. Landing a high berth on Anthropic might bolster either bank's status as one of the major advisors to the nascent generation of trillion-dollar AI startups. But Anthropic's value is a hard bar to clear. It's been just a few months, yet investors would be paying more than double the company's May value of $2 trillion. That means growth forecasts matter. Anthropic's revenue in July was at an annualized pace of approximately $65 billion, below some investors' more bullish estimates of nearly $80 billion. The competition is heating up, too, as OpenAI has unveiled a new flagship model, with both businesses racing to snatch corporate and developer clients. Bloomberg / Getty Images Anthropic's IPO timeline is already shifting One significant element has changed since the Financial Times first reported the story. The FT indicated Anthropic might publish its prospectus as early as September and begin trading around late September or early October, but Reuters later reported that the timing had slipped. Anthropic is now scheduled to file its prospectus in late September, start promoting the offering around mid-October, and perhaps finish the listing just ahead of the U.S. midterm elections in November. The corporation is also closing on an around $15 billion revolving credit facility that includes Morgan Stanley, Goldman Sachs, JPMorgan, and Citigroup, according to Reuters. It provides the banks with additional financial ties to Anthropic even before the IPO begins. Anthropic could become Wall Street's biggest AI test yet The temptation is to see Anthropic's IPO as another marker of the AI boom. That's what makes the value something other than that. The $2 trillion price tag would require public market investors to back a corporation that was valued at $380 billion in February and $965 billion in May. But that doesn't mean investors will pass it up. Anthropic's revenue growth, its technology being adopted by companies like Amazon's AI unit, and the fact that it is able to raise huge sums of cash all point to unusually high demand for its technology. But an IPO transforms the crowd. The private investors are counting on years of growth ahead and can pay high prices. At some point, public investors want to see on a quarterly basis that those expectations are being fulfilled. That's why Morgan Stanley and Goldman Sachs could be pushing so hard for the top spots. Anthropic may be one of Wall Street's most renowned transactions. It might also be the most transparent test yet of how far investors will drive the AI boom until pricing itself becomes the danger. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc. This story was originally published September 8, 2026 at 4:03 PM.
Anthropic's $2 trillion IPO could test the limits of AI mania
Anthropic might soon test how much Wall Street actually believes in the artificial-intelligence boom. The Claude maker is nearing decisions on key banking roles for an IPO that investors expect to value the company at $2 trillion or more, according to the Financial Times. Morgan Stanley (MS) seems likely to take the "lead left" position, while Goldman Sachs (GS) will oversee stabilization after trading. That would be an amazing price, even by AI norms. Anthropic raised $65 billion in additional cash in May, when it was valued at $965 billion. That would mean a public value of $2 trillion, a gain of almost 107% in a few months. And that's the whole tale. Anthropic isn't only getting ready for an IPO. It may be asking public investors to bless one of the quickest valuation increases in business history. Anthropic's $2 trillion number changes the IPO stakes Morgan Stanley has been discussing share prices with potential Anthropic investors, according to the Financial Times, but its lead role is still unclear. JPMorgan Chase (JPM), Citigroup (C), and Barclays (BCS) should also gain significant positions after financing Anthropic. The "lead left" position is important because the bank in the position often has considerable influence on the price, the allocation of investors, and the overall marketing of the offering. But the banks are vying for more than status. Anthropic's $2 trillion valuation would beat the $1.77 trillion value SpaceX obtained when it went public in June, establishing a new record for the IPO market. SpaceX priced its initial offering at $75 billion, but that later grew to $85.7 billion after underwriters exercised their overallotment option. Anthropic itself has moved with surprising speed. The corporation raised $30 billion at a value of $380 billion in February, Reuters reported. A $65 billion round in May put its valuation at $965 billion. At the time, Anthropic estimated its run-rate revenue at more than $47 billion. That implies Anthropic's private value has tripled more than three times since February. Wall Street is betting AI can support another historic IPO The IPO would come at a crucial time for equities in artificial intelligence. SpaceX's blockbuster launch demonstrated investors' appetite to sustain a huge value partially based on aspirations for AI. Anthropic could now be able to take that excitement even further. There's a second award for Wall Street, too. Morgan Stanley and Goldman Sachs are also seen vying for top spots in OpenAI's eventual IPO, the Financial Times said. Landing a high berth on Anthropic might bolster either bank's status as one of the major advisors to the nascent generation of trillion-dollar AI startups. But Anthropic's value is a hard bar to clear. It's been just a few months, yet investors would be paying more than double the company's May value of $2 trillion. That means growth forecasts matter. Anthropic's revenue in July was at an annualized pace of approximately $65 billion, below some investors' more bullish estimates of nearly $80 billion. The competition is heating up, too, as OpenAI has unveiled a new flagship model, with both businesses racing to snatch corporate and developer clients. Bloomberg / Getty Images Anthropic's IPO timeline is already shifting One significant element has changed since the Financial Times first reported the story. The FT indicated Anthropic might publish its prospectus as early as September and begin trading around late September or early October, but Reuters later reported that the timing had slipped. Anthropic is now scheduled to file its prospectus in late September, start promoting the offering around mid-October, and perhaps finish the listing just ahead of the U.S. midterm elections in November. The corporation is also closing on an around $15 billion revolving credit facility that includes Morgan Stanley, Goldman Sachs, JPMorgan, and Citigroup, according to Reuters. It provides the banks with additional financial ties to Anthropic even before the IPO begins. Anthropic could become Wall Street's biggest AI test yet The temptation is to see Anthropic's IPO as another marker of the AI boom. That's what makes the value something other than that. The $2 trillion price tag would require public market investors to back a corporation that was valued at $380 billion in February and $965 billion in May. But that doesn't mean investors will pass it up. Anthropic's revenue growth, its technology being adopted by companies like Amazon's AI unit, and the fact that it is able to raise huge sums of cash all point to unusually high demand for its technology. But an IPO transforms the crowd. The private investors are counting on years of growth ahead and can pay high prices. At some point, public investors want to see on a quarterly basis that those expectations are being fulfilled. That's why Morgan Stanley and Goldman Sachs could be pushing so hard for the top spots. Anthropic may be one of Wall Street's most renowned transactions. It might also be the most transparent test yet of how far investors will drive the AI boom until pricing itself becomes the danger. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc. This story was originally published September 8, 2026 at 7:03 PM.
Anthropic's $2 trillion IPO could test the limits of AI mania
Anthropic might soon test how much Wall Street actually believes in the artificial-intelligence boom. The Claude maker is nearing decisions on key banking roles for an IPO that investors expect to value the company at $2 trillion or more, according to the Financial Times. Morgan Stanley (MS) seems likely to take the "lead left" position, while Goldman Sachs (GS) will oversee stabilization after trading. That would be an amazing price, even by AI norms. Anthropic raised $65 billion in additional cash in May, when it was valued at $965 billion. That would mean a public value of $2 trillion, a gain of almost 107% in a few months. And that's the whole tale. Anthropic isn't only getting ready for an IPO. It may be asking public investors to bless one of the quickest valuation increases in business history. Anthropic's $2 trillion number changes the IPO stakes Morgan Stanley has been discussing share prices with potential Anthropic investors, according to the Financial Times, but its lead role is still unclear. JPMorgan Chase (JPM), Citigroup (C), and Barclays (BCS) should also gain significant positions after financing Anthropic. The "lead left" position is important because the bank in the position often has considerable influence on the price, the allocation of investors, and the overall marketing of the offering. But the banks are vying for more than status. Anthropic's $2 trillion valuation would beat the $1.77 trillion value SpaceX obtained when it went public in June, establishing a new record for the IPO market. SpaceX priced its initial offering at $75 billion, but that later grew to $85.7 billion after underwriters exercised their overallotment option. Anthropic itself has moved with surprising speed. The corporation raised $30 billion at a value of $380 billion in February, Reuters reported. A $65 billion round in May put its valuation at $965 billion. At the time, Anthropic estimated its run-rate revenue at more than $47 billion. That implies Anthropic's private value has tripled more than three times since February. Wall Street is betting AI can support another historic IPO The IPO would come at a crucial time for equities in artificial intelligence. SpaceX's blockbuster launch demonstrated investors' appetite to sustain a huge value partially based on aspirations for AI. Anthropic could now be able to take that excitement even further. There's a second award for Wall Street, too. Morgan Stanley and Goldman Sachs are also seen vying for top spots in OpenAI's eventual IPO, the Financial Times said. Landing a high berth on Anthropic might bolster either bank's status as one of the major advisors to the nascent generation of trillion-dollar AI startups. But Anthropic's value is a hard bar to clear. It's been just a few months, yet investors would be paying more than double the company's May value of $2 trillion. That means growth forecasts matter. Anthropic's revenue in July was at an annualized pace of approximately $65 billion, below some investors' more bullish estimates of nearly $80 billion. The competition is heating up, too, as OpenAI has unveiled a new flagship model, with both businesses racing to snatch corporate and developer clients. Bloomberg / Getty Images Anthropic's IPO timeline is already shifting One significant element has changed since the Financial Times first reported the story. The FT indicated Anthropic might publish its prospectus as early as September and begin trading around late September or early October, but Reuters later reported that the timing had slipped. Anthropic is now scheduled to file its prospectus in late September, start promoting the offering around mid-October, and perhaps finish the listing just ahead of the U.S. midterm elections in November. The corporation is also closing on an around $15 billion revolving credit facility that includes Morgan Stanley, Goldman Sachs, JPMorgan, and Citigroup, according to Reuters. It provides the banks with additional financial ties to Anthropic even before the IPO begins. Anthropic could become Wall Street's biggest AI test yet The temptation is to see Anthropic's IPO as another marker of the AI boom. That's what makes the value something other than that. The $2 trillion price tag would require public market investors to back a corporation that was valued at $380 billion in February and $965 billion in May. But that doesn't mean investors will pass it up. Anthropic's revenue growth, its technology being adopted by companies like Amazon's AI unit, and the fact that it is able to raise huge sums of cash all point to unusually high demand for its technology. But an IPO transforms the crowd. The private investors are counting on years of growth ahead and can pay high prices. At some point, public investors want to see on a quarterly basis that those expectations are being fulfilled. That's why Morgan Stanley and Goldman Sachs could be pushing so hard for the top spots. Anthropic may be one of Wall Street's most renowned transactions. It might also be the most transparent test yet of how far investors will drive the AI boom until pricing itself becomes the danger. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc. This story was originally published September 8, 2026 at 7:03 PM.