Anthropic seeks to add billions of dollars in bank credit ahead of planned IPO
Artificial intelligence company Anthropic is in talks with multiple banks to arrange a multibillion-dollar credit line, a move aimed at boosting its cash reserves ahead of a planned initial public offering this year, according to people familiar with the matter. The new loan will add to the $2.5 billion five-year revolving credit facility the company secured last year. Companies often extend such credit lines before an IPO, and multiple banks providing credit often serve as underwriters for the listing. Take SpaceX as an example. About a month before its official listing in June, the company worked with several IPO underwriting banks to increase its credit lines. The credit facility is just one of a series of measures Anthropic has launched in preparation for its listing. People close to the transaction said that the company may be listed as soon as September this year, but the time has not been officially finalized and there is also the possibility of delaying the listing. According to people familiar with the matter, Anthropic’s target valuation for this IPO is expected to reach US$1 trillion or even higher. A person familiar with the preparations said that the Claude large-scale model developer will conduct a road show with public investors in the coming weeks. This type of communication usually occurs earlier than the company publicly submits IPO application documents, allowing the company to evaluate investors' acceptance of the issuance size and target valuation. Bloomberg News has previously disclosed relevant negotiation plans. An Anthropic spokesman declined to comment.