Anthropic picks Morgan Stanley and Goldman Sachs to lead its IPO, with a SpaceX computing deal worth $1.25 billion per month buried in the fine print

Anthropic has selected Morgan Stanley and Goldman Sachs to lead its initial public offering, with JPMorgan Chase also on the deal, targeting an October listing at a $965 billion valuation. SpaceX's own IPO filing revealed it supplies Anthropic with approximately 325,000 Nvidia chips for AI computing at a cost of $1.25 billion per month through May 2029. The arrangement makes SpaceX simultaneously an Anthropic supplier, competitor through its Grok chatbot, and fellow IPO candidate, with the $15 billion annualized computing cost highlighting the scale of Anthropic's infrastructure needs.

TL;DR Anthropic has picked Morgan Stanley and Goldman Sachs to lead its IPO, with JPMorgan also on the deal, targeting an October listing. SpaceX’s S-1 revealed it supplies Anthropic with 325,000 Nvidia chips at $1.25 billion per month. JPMorgan is also on the deal as Anthropic targets an October listing at a $965 billion valuation. SpaceX’s own IPO filing revealed it supplies Anthropic with 325,000 Nvidia chips for AI computing. Anthropic has picked Morgan Stanley and Goldman Sachs to lead its IPO, with JPMorgan also on the deal, targeting an October listing. SpaceX’s S-1 revealed it supplies Anthropic with 325,000 Nvidia chips at $1.25 billion per month. TL;DR Anthropic has selected Morgan Stanley and Goldman Sachs to lead its initial public offering, with JPMorgan Chase also working on the deal, Bloomberg reported on Tuesday https://www.bloomberg.com/news/articles/2026-06-03/anthropic-said-to-pick-morgan-stanley-goldman-sachs-to-lead-ipo . The Claude developer is weighing going public as soon as October after filing confidentially for a listing on Monday. More banks could be added to the lineup, and details of the offering could change. The appointment formalises the underwriting syndicate for what could be one of the largest technology IPOs in history. Anthropic’s listing is part of a cluster of blockbuster offerings https://thenextweb.com/news/spacex-just-filed-for-the-largest-ipo this autumn, with SpaceX set to list as soon as 12 June at a $1.8 trillion valuation and OpenAI also preparing its own filing with Goldman Sachs, Morgan Stanley, Citigroup, and JPMorgan. The most striking detail emerged not from Anthropic’s own disclosures but from SpaceX’s IPO filing, which revealed that SpaceX provides Anthropic with AI computing capacity including approximately 325,000 Nvidia chips at a cost of $1.25 billion per month. The agreement runs through May 2029 and can be terminated by either party with 90 days’ notice after an initial three-month period. The arrangement makes SpaceX simultaneously an Anthropic supplier, competitor through its Grok chatbot , and fellow IPO candidate. At $1.25 billion monthly, the deal represents $15 billion in annualised computing costs for Anthropic, a figure that contextualises both the scale of Anthropic’s infrastructure needs https://thenextweb.com/news/accel-5-billion-fund-ai-anthropic-cursor-venture-capital and the thin margins that even a company projecting $10.9 billion in quarterly revenue must navigate. The S-1, when made public, will need to disclose this as a material related-party arrangement given the competitive overlap. Anthropic and OpenAI are competing for investor attention, the same underwriting banks, and ultimately the same pool of public market capital. Both have spoken with Morgan Stanley, Goldman Sachs, and JPMorgan. The company that lists first sets the valuation benchmark for the AI sector and gets first access to institutional allocations. Anthropic’s position has strengthened dramatically this year. Its Mythos cybersecurity model https://thenextweb.com/news/europe-mythos-anthropic-cybersecurity-access-crisis rattled global markets, its coding agents sent legal software stocks spiralling in February, and its revenue trajectory, from $4 billion annualised in July 2025 to a projected $50 billion run rate by July 2026, eclipsed OpenAI’s growth. The $965 billion private valuation already exceeds OpenAI’s, reversing a hierarchy that had held since both companies’ founding. The Pentagon’s supply-chain risk designation of Anthropic https://thenextweb.com/news/anthropic-pentagon-ban-ai-governance-europe remains the most significant overhang for the IPO. The company’s refusal to grant the military unrestricted model access led to a designation typically reserved for foreign adversaries, and Anthropic has said it could jeopardise billions in revenue. How the S-1 discloses and quantifies this risk will be closely scrutinised by public market investors. Anthropic was founded in 2021 by former OpenAI staffers including CEO Dario Amodei, positioning itself as a more responsible AI steward than its competitors. Claude and its underlying technology have gained traction with enterprise customers in finance, healthcare, and software development. The enterprise AI spending surge https://thenextweb.com/news/saas-stagnation-ai-native-agentic-enterprise-spend has benefited Anthropic disproportionately, with the company on pace for its first profitable quarter at $559 million in operating profit on $10.9 billion in Q2 revenue. The IPO will test whether a company that has raised $65 billion in private capital, achieved a $965 billion valuation, and is spending $1.25 billion per month on a single computing contract can sustain investor enthusiasm in the public market. Morgan Stanley and Goldman Sachs are betting it can. Get the most important tech news in your inbox each week.