San Francisco-based artificial intelligence firm Anthropic is close to finalizing a $15 billion pre-IPO credit facility, according to reporting published this week, as the company advances plans for a public listing that could arrive as soon as mid-October.
The credit line would give Anthropic access to a large pool of capital ahead of its stock market debut, funding the computing infrastructure and model development that define the intensive economics of frontier AI.
Anthropic is nearing the selection of Morgan Stanley and Goldman Sachs to lead the offering, the Financial Times reported. The two banks would occupy the senior roles on a listing that is shaping up as one of the most closely watched technology debuts of the year.
People familiar with the process said the IPO launch has shifted toward mid-October. Timelines for offerings of this scale can move with market conditions, and no firm date has been set publicly.
The developments follow months of escalating financial activity around the company. Anthropic, maker of the Claude family of AI models, has raised capital at rising valuations while committing to multibillion-dollar compute agreements with cloud and hardware partners.
Earlier this year the company was weighing a funding round valuing it at $170 billion, a figure that has since climbed as investor demand for AI exposure intensified. The company has also signed a $35 billion cloud arrangement with Nvidia-backed Lambda and a $9.1 billion compute deal with Riot Platforms.
A pre-IPO credit facility of $15 billion would rank among the larger such arrangements tied to a technology listing, reflecting the capital demands of training and running advanced AI systems. The money can bridge spending needs before proceeds from a public offering arrive.
Anthropic was founded in 2021 by former OpenAI researchers, including siblings Dario and Daniela Amodei. It has positioned itself as a safety-focused developer of large language models and counts major cloud providers among its backers and infrastructure partners.
Neither Anthropic nor the banks named in the reports have confirmed the appointments or the listing timeline. The company has not disclosed a target valuation for the offering.
The credit facility is expected to close before the listing proceeds, according to the reporting, with bank mandates finalized in the near term.