Financial Times · TechnologySep 5, 2026, 03:46 UTC+8

Anthropic close to picking Morgan Stanley and Goldman Sachs for $2tn IPO

Anthropic close to awarding Morgan Stanley and Goldman top roles in $2tn IPO

Anthropic is finalizing its IPO lineup, with Morgan Stanley and Goldman Sachs taking lead roles. The $2tn valuation would make this the largest AI public offering yet. The post only names the banks and the target valuation—no timeline, fundraising amount, or financials are disclosed. I'd discount the $2tn figure for now; it's a negotiation target, not a done deal.

Why it matters: Anthropic's IPO is a milestone for the industry, with FT exclusively confirming lead banks and a $2tn valuation target. Score isn't higher because the post doesn't disclose timeline, raise amount, or any financials — only the bank lineup and that valuation figure, so I'm disco...

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The $2tn number is what makes this worth clicking. If that valuation holds, Anthropic would be the largest AI IPO ever—dwarfing OpenAI's $300bn funding round from early this year.

But the post only names the banks and the negotiation target. No IPO date, no fundraising amount, no revenue figures. $2tn is the asking price, not the closing price—I'd discount it for now. The FT's own headline says "close to awarding," so the banks aren't even formally signed yet.

The interesting bit is the choice of Morgan Stanley and Goldman, a classic blue-chip pairing, rather than a direct listing or a more tech-focused syndicate like OpenAI pursued. That signals a traditional, liquidity-heavy IPO path. What I'm watching for next: actual revenue in the S-1 filing, and how much the final pricing shaves off that $2tn target.

Source: Financial Times · Technology · ft.com
Published: Sep 5, 2026, 03:46 UTC+8 · 25 days ago