Anthropic is preparing to finalize an expansion of its revolving credit facility to $15 billion, significantly exceeding its original target and removing another hurdle before the artificial intelligence company formally files for its highly anticipated initial public offering.
Morgan Stanley is leading the financing process, while Goldman Sachs, JPMorgan Chase and Citigroup are also playing prominent roles, according to Bloomberg. The same four Wall Street banks are leading preparations for Anthropic’s IPO.
The new facility would be six times larger than the $2.5 billion five-year revolving credit line Anthropic secured last year and substantially above the roughly $10 billion the company had initially targeted.
Wall Street Banks Line Up Behind Anthropic
The size of the facility illustrates the extraordinary amount of capital surrounding Anthropic as it prepares for what could become one of the largest technology IPOs ever.
The most active banks were asked to provide commitments of roughly $1.25 billion each, according to Bloomberg. Banks in the next tier were encouraged to commit around $1 billion, with smaller participants contributing approximately $750 million or less.
Barclays and Wells Fargo are also expected to hold significant positions in the financing, while Bank of America, Deutsche Bank, Royal Bank of Canada and UBS are among other major lenders involved.
For Wall Street banks, participating in the credit facility could also strengthen their positions in the upcoming IPO. Larger lending commitments often correspond with more prominent roles and potentially larger fees in major capital markets transactions.
$15 Billion Facility Clears Another IPO Hurdle
Finalizing the revolving credit facility represents an important procedural step toward Anthropic’s public listing.
Companies preparing major IPOs typically establish or expand credit facilities before formally assigning banks their final underwriting roles. Anthropic’s progress therefore provides another indication that preparations for its public-market debut are accelerating.
The Claude developer is reportedly seeking to raise an amount comparable to or potentially larger than SpaceX did in its record-setting IPO.
Anthropic’s rapid growth is helping support those ambitions. Bloomberg has reported that the company’s annualized revenue has surpassed $65 billion, more than seven times its pace at the end of last year.
Anthropic Moves Closer to Public Markets
The financing comes as investor attention increasingly shifts toward Anthropic’s eventual valuation and the scale of its public offering.
The company has expanded rapidly as demand for Claude grows among enterprises and developers, while simultaneously committing enormous sums to computing infrastructure required to train and operate increasingly powerful AI models.
A $15 billion revolving credit facility would give Anthropic another substantial source of liquidity as it navigates that expansion.
It also represents a dramatic increase in the willingness of major financial institutions to provide capital to frontier AI companies.
With Morgan Stanley, Goldman Sachs, JPMorgan and Citigroup now holding leading positions across both the financing and IPO preparations, Anthropic appears to be moving closer to formally beginning the process of becoming a publicly traded company.
If the listing proceeds as expected, it could become one of the defining events of the current AI investment boom and one of the largest IPOs in market history.
