1 hour ago
By Bailey Lipschultz and Ryan Gould
Anthropic PBC is set to add Citigroup Inc. to the banks working on its initial public offering, according to people familiar with the matter, as Wall Street jostles for roles on the artificial intelligence firm’s debut.
The bank would join rivals Morgan Stanley, Goldman Sachs Group Inc. and JPMorgan Chase & Co. in the top ranks of advisers on the upcoming deal, the people said. Anthropic is considering filing for a listing as soon as the end of this month, Bloomberg News reported.
Landing a top spot working on a large IPO not only promises a bigger share of the fees than the rest of the banks, it also helps bolster a bank’s ranking in the league tables. Citigroup has the top ranking in Bloomberg’s US IPO table for 2026, pulling in the most credit from its role on SpaceX’s record-setting $86.2 billion debut, including the over-allotment.
Deliberations are ongoing, details could change and more banks are expected to be added to the lineup, the people said, asking not to be identified as the information isn’t public. Representatives for Anthropic and Citigroup declined to comment.
Citigroup participated in a group of banks agreeing a $2.5 billion revolving credit line with Anthropic last year. The AI firm’s revolver is set to rise above its roughly $10 billion target, people familiar with the matter said this week.
The company and its rival OpenAI have filed confidential paperwork to go public, with Anthropic expected to make its Wall Street debut this fall, ahead of OpenAI.
Anthropic is on track to generate annualized revenue of more than $65 billion based on its current performance, up more than sevenfold from its pace at the end of last year, Bloomberg News reported.
