Anthropic Seeks $10 Billion Credit Line Ahead of IPO

Anthropic is establishing a revolving credit facility expected to exceed a $10 billion target as the company prepares for a potential initial public offering. The AI developer confidentially filed for a U.S. IPO in June and is working with Morgan Stanley, Goldman Sachs, and JPMorgan on the listing, which could occur as early as this fall.

Banks are competing to participate in the expanded credit line to secure active roles in the IPO. Anthropic has requested commitments of approximately $1.25 billion from its most active arranging banks, $1 billion from second-tier lenders, and $750 million or less from less active participants. This follows a $2.5 billion facility the company secured last year.

Financial projections show an annual revenue run rate exceeding $65 billion as of late July, with the company forecasting 2028 revenues between $190 billion and $200 billion. Separately, banks led by Morgan Stanley have discussed $15 billion in debt financing for an Anthropic data-center project in Texas involving Nexus Data Centres and Google.