News & Updates
The latest news and updates from companies in the WLTH portfolio.
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 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 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 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 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.
Samsung SDS to expand partnerships with OpenAI, Anthropic to drive AI transformation
Samsung SDS Co., the information technology services arm of South Korea's Samsung Group, said Tuesday it will expand cooperation with major global artificial intelligence companies, including OpenAI and Anthropic, as it seeks to drive innovation through AI transformation. The company made the announcement at its annual summit, where it unveiled its vision for accelerating AI transformation dubbed AX across businesses and work processes. Samsung SDS said it will become the first South Korean company to participate as a pilot partner in OpenAI's Daybreak Partner Program. OpenAI's Daybreak is a cybersecurity initiative designed to integrate frontier AI models into software security workflows from the earliest stages of development. Samsung SDS said it also established a strategic partnership with Anthropic PBC in San Francisco in July, becoming the first South Korean company to do so. The two companies will work together to identify new AX business opportunities by combining their technological capabilities and business expertise. "AX is not simply about reducing time and costs. It means completely redesigning the way businesses and work are done from the ground up," Samsung SDS CEO Lee Joon-hee said in his opening speech. "AI changes the way we work, but AX changes the business." Samsung SDS is pursuing a "client zero" strategy, in which it first applies and validates AX solutions within its own operations before expanding them to customers. The company is building up AX capabilities across seven major internal processes, including development, procurement and quality management, before applying the results to customer operations. (Yonhap)
Interactive Brokers Earns Interest on $182 Billion of Its Clients' Idle Cash. Will Anthropic's IPO Drain It? - AOL
Interactive Brokers(NASDAQ:IBKR) ended June with $182.4 billion of uninvested client cash, up 27% year over year. Not only did the pile grow, but it was bigger still two months after the quarter closed, reaching $185.6 billion at the end of August. And until clients put that money to work, the automated global broker collects interest on it. They may soon get a big occasion to put some of it to work. Anthropic's initial public offering (IPO) prospectus could arrive as soon as this week. In late August, The Information reported that the artificial intelligence (AI) company planned to release it just after Labor Day, with a market debut following as soon as the end of this month. Missed Nvidia in 2009? This Rare Signal Is Flashing Again.In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue " Investors project the Claude maker's valuation could land at about $2 trillion, CNBC has reported. They also expect the offering itself could top the largest on record -- the $85.7 billion SpaceX(NASDAQ:SPCX) raised in its June debut. Anthropic's timing is a plan, not a scheduled event. There's no public prospectus, no price, and no share count yet. But I think the setup is worth examining, because the broker just lived through a version of it. What does a huge listing do to this business? A cash pile that pays Interactive Brokers earns money on client cash in a straightforward way. It segregates customer cash as regulators require and invests the majority of that segregated cash in short-term U.S. government securities and related instruments. Clients earn interest on qualifying U.S. dollar balances, and the company keeps a spread for itself: half a percentage point below the benchmark federal funds rate. At today's scale, net interest income is the company's biggest revenue line. It rose 23% year over year to $1.06 billion in the second quarter, helped by growing customer credit balances and a 67% jump in customer margin loans. That was more than half of the quarter's $1.9 billion of total net revenues. Notably, the growth came from bigger balances. The company's net interest margin narrowed to 1.93% from 2.07% a year earlier as interest rates declined, yet net interest income climbed anyway. In other words, the cash isn't idle from the broker's perspective. Every uninvested dollar earns the company a little interest, and clients added about $39 billion of those dollars over the past year. SpaceX's debut didn't drain the pile If a giant IPO were going to pull client cash out of the business for good, the second quarter was the test. SpaceX went public on June 12, and Interactive Brokers participated directly. "In Europe, we directly offered the SpaceX IPO to eligible U.K. and European retail clients, providing access across multiple countries," said Nancy Stuebe, the company's director of investor relations, on the July earnings call. The trading side delivered. Commission revenue hit a record $673 million in the second quarter, up 30% year over year and accelerating from 19% growth in the first quarter. But the cash pile grew anyway. Client equity climbed to $962.8 billion in August, up 35% year over year, and customers traded more too -- daily average revenue trades rose 23%. And a big reason the cash keeps pace is that new customers keep arriving. Client accounts reached 5.46 million in August, up 35% from a year earlier. Will Anthropic be a repeat? Two things would have to happen first. The offering has to arrive at all. Anthropic's June filing was a confidential draft registration statement, and the company has said the proposed offering will depend on market conditions. Interactive Brokers would also need access to the shares. The company hasn't said anything about distributing Anthropic's offering, and its SpaceX access was limited to eligible retail clients in the U.K. and Europe. I wouldn't assume a repeat until the company announces one. Still, the second quarter suggests shareholders don't need one. Heavier customer trading can lift commissions, while account growth keeps refilling the interest-earning cash pile. Ultimately, I view an Anthropic debut as a potential bonus for this business rather than a swing factor. Even at a record $673 million, commissions remain the smaller of the company's two big revenue lines. The stock, meanwhile, sits near $92 as of this writing, about 6% short of its 52-week high. And it trades at about 29 times what analysts expect it to earn next year -- arguably a rich price for a brokerage, although one attached to 28% net revenue growth and a pretax profit margin that expanded to 77% last quarter. I wouldn't buy shares because of an IPO on the horizon. The account growth that keeps refilling that cash pile matters a lot more. Should you buy stock in Interactive Brokers Group right now? Before you buy stock in Interactive Brokers Group, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now... and Interactive Brokers Group wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $421,997!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,413,876!* Now, it's worth noting Stock Advisor's total average return is 978% -- a market-crushing outperformance compared to 213% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors. See the 10 stocks " *Stock Advisor returns as of September 7, 2026. Daniel Sparks and his clients do not have positions in any of the stocks mentioned. The Motley Fool has positions in and recommends Interactive Brokers Group. The Motley Fool recommends the following options: long January 2027 $43.75 calls on Interactive Brokers Group and short January 2027 $46.25 calls on Interactive Brokers Group. The Motley Fool has a disclosure policy.
Gangwon Police Summon Polymarket Users in Illegal Gambling Probe
Users Claim Platform Is Investment, Not Gambling; Legal Challenge Looms Police have confirmed that they have notified domestic users of the world's largest prediction market platform, Polymarket, to appear for investigation on charges of illegal gambling. Polymarket is classified as an illegal private gambling operation in South Korea. Users argue that applying gambling charges to a prediction market, which they claim is a virtual asset derivatives investment market, is difficult. On the 8th, according to police, the Gangwon Provincial Police Agency notified Polymarket's domestic users en masse to appear the previous day as part of an ongoing investigation into gambling charges. The investigation targets Polymarket users residing nationwide, including in Gangwon Province. Since launching the first investigation into domestic Polymarket users in June of this year, the police have accelerated their probe. Polymarket is a blockchain-based prediction market platform where users wager virtual assets on the outcomes of future events in politics, economics, sports, and social issues in the real world. The Korea Media and Communications Standards Commission resolved on August 18 to request corrective measures (access blocking) against Polymarket, stating that it corresponds to information aimed at aiding gambling and establishing gambling venues under the Criminal Act, as well as "similar acts" under the National Sports Promotion Act. Under current laws, all betting activities on platforms other than Sports Toto (operated by the Korea Sports Promotion Foundation, with a betting limit of 100,000 Korean won) are illegal. Domestic Polymarket users could face fines of up to 10 million Korean won under Article 246 of the Criminal Act (gambling and habitual gambling). Jin Hyunsoo, a virtual asset specialist lawyer at Decent Law Firm, who represents some of the domestic Polymarket users under investigation, stated, "It seems unreasonable to uniformly classify prediction markets, which lack guidelines and do not cause social disorder like actual gambling, as the same category of illegal gambling. There is sufficient room to view prediction markets as virtual asset derivative investments, and we will refute the investigative agency's logic."
Samsung SDS to expand partnerships with OpenAI, Anthropic to drive AI transformation
SEOUL, Sept. 8 (Yonhap) -- Samsung SDS Co., the information technology services arm of South Korea's Samsung Group, said Tuesday it will expand cooperation with major global artificial intelligence (AI) companies, including OpenAI and Anthropic, as it seeks to drive innovation through AI transformation. The company made the announcement at its annual summit, where it unveiled its vision for accelerating AI transformation dubbed AX across businesses and work processes. Samsung SDS said it will become the first South Korean company to participate as a pilot partner in OpenAI's Daybreak Partner Program. OpenAI's Daybreak is a cybersecurity initiative designed to integrate frontier AI models into software security workflows from the earliest stages of development. Samsung SDS said it also established a strategic partnership with Anthropic PBC in San Francisco in July, becoming the first South Korean company to do so. The two companies will work together to identify new AX business opportunities by combining their technological capabilities and business expertise. "AX is not simply about reducing time and costs. It means completely redesigning the way businesses and work are done from the ground up," Samsung SDS CEO Lee Joon-hee said in his opening speech. "AI changes the way we work, but AX changes the business." Samsung SDS is pursuing a "client zero" strategy, in which it first applies and validates AX solutions within its own operations before expanding them to customers. The company is building up AX capabilities across seven major internal processes, including development, procurement and quality management, before applying the results to customer operations.
Anthropic Said to Walk Away From $6 Billion Decart Acquisition
Anthropic PBC has decided against pursuing an acquisition of artificial intelligence startup Decart AI, people familiar with the matter said. Anthropic had been exploring a deal and performed due diligence on Decart, but ultimately walked away, according to the people, who asked not to be ...
