Artificial intelligence firm Anthropic is set to add Citigroup to the group of banks working on its initial public offering as it prepares for a potential Wall Street debut this fall, Bloomberg reported, citing people familiar with the matter.
Citigroup would join Morgan Stanley, Goldman Sachs, and JPMorgan among the top advisers for its planned IPO. Anthropic is considering filing for a listing as soon as the end of this month, according to Bloomberg, though deliberations remain ongoing, details could change, and more banks are expected to join the lineup, the people said.
A leading role on a major IPO can bring banks a larger share of underwriting fees. Citigroup currently ranks first in Bloomberg's U.S. IPO table for 2026, helped by its role in SpaceX's record-setting $86.2 billion debut, the outlet said.
Pre-IPO financing
Citigroup was part of a group that agreed to provide the AI company with a $2.5 billion revolving credit line last year. Anthropic's revolving credit facility is now set to exceed its roughly $10 billion target, Bloomberg reported earlier this week.
Anthropic and rival OpenAI have both filed confidential paperwork to go public. Anthropic is expected to make its Wall Street debut this fall, ahead of OpenAI, per the report.
The potential listing comes as Anthropic's business expands rapidly. The company is on track to generate more than $65 billion in annualized revenue based on its current performance, more than seven times its pace at the end of last year.