Anthropic seeks to expand credit line ahead of IPO

Anthropic is in discussions with banks to expand its credit facility by several billion dollars as the artificial intelligence company prepares for what could be one of the largest initial public offerings in history, according to a report published Tuesday by The Information.theinformation

The new loans would build on Anthropic's existing $2.5 billion, five-year revolving credit facility, which it secured in May 2025 with participation from Morgan Stanley ↗ 0.39%, Barclays ↘ 1.21%, Citibank, Goldman Sachs The Goldman Sachs Group, Inc. ↗ 1.14%, JPMorgan ↘ 0.52%, Royal Bank of Canada ↘ 0.17%, and Mitsubishi UFJ Financial Group ↘ 0.13%. According to Investing.com's reporting on The Information's story, the expanded credit line would give the company greater access to cash ahead of its public listing. KuCoin News reported the expansion is worth $2.5 billion.cnbc+2

A Path to Public Markets

Anthropic confidentially filed its draft S-1 registration with the Securities and Exchange Commission on June 1, positioning itself ahead of rival OpenAI in the race to go public. The IPO is tentatively targeted for late October, with Goldman Sachs, JPMorgan, and Morgan Stanley expected to serve as lead underwriters. The offering could raise more than $60 billion, which would make it among the largest tech listings ever.reuters+3

The company's valuation has climbed sharply in recent months. Anthropic raised $30 billion in a Series G round in February 2026 at a $380 billion post-money valuation, then followed with a $65 billion Series H round in late May that valued it at $965 billion. Secondary market trading has since pushed the implied valuation past $1 trillion.valueaddvc+5

Building Financial Firepower

The credit line expansion is the latest in a string of moves to shore up Anthropic's financial position. In early June, Apollo Global Management ↘ 4.42% and Blackstone ↘ 2.33% finalized a $35 billion financing package to help the company expand its AI computing infrastructure. Forbes reported that Anthropic has raised over $125 billion in private rounds and holds cash reserves exceeding those of many publicly listed companies.bloomberg+1

Companies frequently seek to bolster their balance sheets ahead of an IPO to demonstrate financial stability to prospective public investors. Despite the scale of its operations and heavy spending on compute, Anthropic does not need public funding to sustain itself, Forbes noted — the IPO represents a strategic decision rather than a necessity.forbes