Goldman Sachs is not content with just raking in lucrative investment banking fees from Anthropic's blockbuster IPO. It also wants a shot at managing the billions of dollars in new wealth that the deal creates. It's not the only bank looking to double dip. Anthropic is set to make its stock market debut next Thursday, with Goldman and Morgan Stanley co-leading the initial public offering. They are tasked with coordinating the other 20 underwriters on the deal, helping set the offer price, and marketing shares to investors. The fee haul is substantial. But the real opening comes from leveraging the cachet that comes with securing this second massive IPO after Elon Musk's SpaceX to get future deals and to feed another part of the business that matters to the long-term bull case. A successful Anthropic IPO, which by all accounts looks likely, would act as a ballast to the precarious moment in the AI trade, Jim Cramer has said. Stocks tied to the data center buildout have faced weeks of selling pressure amid growing political opposition following the Democratic wave…
Goldman Sachs looks to cash in on Anthropic's IPO, twice. Here's how and who else wants to
In short
Goldman Sachs and Morgan Stanley are co-leading the massive offering alongside approximately 20 other underwriting banks, including Citigroup and JPMorgan. Beyond collecting upfront transaction fees, firms like Goldman intend to transition Anthropic's newly enriched executives and staff into long-term private wealth clients to offset cyclical market revenues. The listing faces significant scrutiny, especially as pressure on data center equities and the abrupt resignation of Nvidia's CEO Jensen Huang rattle the artificial intelligence landscape. Consequently, the transaction will measure institutional appetite for high-valuation artificial intelligence firms while rival OpenAI delays its own…
Key points
- Investment banks are actively competing to secure wealth management mandates from Anthrop…: Investment banks are actively competing to secure wealth management mandates from Anthropic founders, executives, and employees.
- Goldman Sachs is utilizing the liquidity event to expand predictable, recurring wealth ma…: Goldman Sachs is utilizing the liquidity event to expand predictable, recurring wealth management revenue to balance cyclical trading.
- Anthropic's market entrance serves as a crucial barometer for artificial intelligence dem…: Anthropic's market entrance serves as a crucial barometer for artificial intelligence demand amid rival OpenAI's decision to delay its offering.