Anthropic Nears $15 Billion Credit Facility as Mega-IPO Draws Closer

Anthropic is nearing an expansion of its revolving credit facility to approximately $15 billion, adding another major piece to the artificial intelligence company’s preparations for what could become one of the largest initial public offerings in history. The financing is being arranged ahead of an expected public filing and highlights the enormous capital requirements surrounding the rapidly growing AI industry.

Morgan Stanley is leading the credit facility, with Goldman Sachs, JPMorgan Chase and Citigroup also playing prominent roles, according to people familiar with the matter. Those same four banks are reportedly leading Anthropic’s anticipated IPO, putting some of Wall Street’s most powerful financial institutions at the center of the company’s transition toward the public markets.

The proposed $15 billion facility would represent a dramatic increase from the roughly $10 billion target previously reported and would dwarf the $2.5 billion five-year revolving facility Anthropic secured last year. The size of the new credit line reflects both the company’s rapidly expanding financial needs and lenders’ willingness to provide substantial financing to one of the AI sector’s most closely watched companies.

Anthropic, the developer of the Claude AI assistant, is also preparing for an IPO that could rival or potentially surpass SpaceX’s record-setting public offering. Sources familiar with the preparations have indicated that Anthropic wants to raise as much as SpaceX or more, setting the stage for a potential battle for the largest IPO ever recorded.

SpaceX’s enormous offering has already transformed the U.S. IPO landscape in 2026. The company raised approximately $86.2 billion in its public debut, accounting for more than half of U.S. IPO proceeds during the first half of the year. The deal helped propel the market to levels not seen since the boom years surrounding 2021.

Anthropic’s potential listing comes as investors have become increasingly comfortable putting enormous amounts of capital behind AI companies. The company has attracted major backing from technology and financial investors, while demand for its Claude models has accelerated as businesses adopt AI for software development, research, customer service and other professional workloads.

The company’s financing strategy also underscores the unusual capital intensity of the AI race. Developing increasingly capable models requires vast amounts of computing power, data-center capacity and specialized chips. A large revolving credit facility gives Anthropic additional financial flexibility as it continues investing in infrastructure and competing with companies such as OpenAI and Google.

The IPO itself could become a defining moment for the public markets. Goldman Sachs previously forecast that U.S. IPO proceeds could reach roughly $160 billion in 2026, as a wave of large technology and AI listings helps revive a market that had cooled considerably following the 2021 boom.

Anthropic’s valuation expectations have also climbed rapidly. Investors and analysts have discussed valuations approaching or exceeding $1 trillion, while more aggressive projections have placed the company near $2 trillion. The eventual valuation will depend heavily on its growth rate, revenue trajectory, profitability prospects and the market’s willingness to sustain extremely high multiples for AI companies.

For Anthropic, securing a massive credit facility before formally entering the public markets would provide another layer of financial firepower while signaling the scale of the company’s ambitions. With Morgan Stanley, Goldman Sachs, JPMorgan and Citigroup reportedly coordinating both its debt financing and IPO, Anthropic is positioning itself for a public debut that could become the biggest test yet of investor appetite for artificial intelligence.