Goldman Sachs and Morgan Stanley Win Anthropic IPO Lead Roles

Anthropic, the artificial intelligence startup backed by billions in investment, has tapped Goldman Sachs and Morgan Stanley to serve as lead underwriters on its anticipated initial public offering, according to a report from The New York Times. The selection hands two of Wall Street's most prominent firms a coveted role at the center of what is expected to be one of the most closely watched technology listings in recent memory.

Lead underwriter mandates on major IPOs carry both financial and reputational weight. The banks earn substantial fees tied to the deal's size and are responsible for pricing the offering, building the investor book, and stabilizing the stock in early trading — functions that place them squarely in the spotlight if the listing succeeds or stumbles.

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The competition between Goldman Sachs and Morgan Stanley for premier technology mandates has long defined the investment banking landscape. Both firms have deep relationships with Silicon Valley's largest venture-backed companies, and securing the Anthropic deal reinforces their standing at a moment when AI-related listings are commanding outsized attention from institutional and retail investors alike.

Anthropics move toward a public offering reflects broader momentum in the AI sector, where valuations have surged as major technology companies and governments race to develop and deploy large language models and related systems. The company, co-founded by former OpenAI researchers, has attracted investment from Amazon and Google, among others, positioning it as one of the most heavily capitalized private AI firms in the world.

Details on timing, valuation targets, or the size of the anticipated share sale were not disclosed in the report. Continue reading at NYT > Business.