Anthropic IPO underwriting fees may reach $100 million each
Goldman Sachs has secured the lead-left seat on Anthropic's prospectus, while Morgan Stanley has shifted to a stabilizing market agent role. If the IPO structure follows that of SpaceX, the two investment banks may each receive about $100 million in underwriting fees. SpaceX's June IPO had a fee pool of about $500 million, with the two lead underwriters each receiving about $100 million and the remaining roughly 20 firms splitting about $300 million; Anthropic has not yet disclosed its own fees. Morgan Stanley also co-led the $63B Broadcom financing used to supply chips to Anthropic.
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NYtimes: If Anthropic follows SpaceX, Goldman and Morgan Stanley could each earn about $100M from its IPO
On SpaceX’s IPO, 2 lead banks took $200M while about 20 others split roughly $300M.
> Goldman Sachs has taken the lead-left spot on Anthropic’s prospectus, reversing September reports that favoured Morgan Stanley, which now serves as stabilization agent, supporting first-day trading, which mirrors the 2 banks’ roles on SpaceX’s record June offering.
> This split copies SpaceX’s record June IPO, where each bank earned about $100M from a roughly $500M fee pool; Anthropic hasn’t disclosed its own fees.
> Morgan Stanley also co-led a $63B Broadcom financing for chip sales to Anthropic, so a bank pricing Anthropic’s shares is also financing its compute supply.