Citigroup to join Anthropic's IPO advisory team
What's the story
Anthropic, a leading player in the artificial intelligence space, is adding Citigroup Inc. to its list of banks for its initial public offering (IPO), according to Bloomberg. The move comes as Wall Street firms compete for positions on the AI company's debut. Along with Citigroup, Morgan Stanley, Goldman Sachs Group Inc., and JPMorgan Chase & Co. are also top advisers for the upcoming deal.
Financial involvement
Citigroup's role in major IPO deal boosts its ranking
Having Citigroup on board for a major IPO deal promises a larger share of fees than other banks. It also improves the bank's ranking in league tables.
Citigroup is already leading Bloomberg's US IPO table for 2026, thanks to its role in SpaceX's record-breaking $86.2 billion debut, including the over-allotment.
Last year, Citigroup was part of a group of banks that agreed to a $2.5 billion revolving credit line with Anthropic.
Market debut
Anthropic's anticipated IPO and revenue growth
Anthropic has already filed confidential paperwork for its IPO, with plans to make its Wall Street debut this fall, ahead of OpenAI.
The company is on track to generate annualized revenue of more than $65 billion based on its current performance.
This marks a more than sevenfold increase from the pace it was on at the end of last year.