The bank selection process for Anthropic's initial public offering is approaching its conclusion. The AI company is close to awarding Morgan Stanley and Goldman Sachs the top underwriting roles on a $2 trillion listing, with filing paperwork expected to be unveiled as soon as next week.
Lead underwriter mandates sit at the center of any large equity offering's deal structure. The banks named to those positions manage the book of investor orders, set the offering's pricing range, and take the largest fee allocation from the transaction. Morgan Stanley and Goldman Sachs are the reported frontrunners for those roles.