Anthropic is in talks with banks to expand its existing $2.5 billion revolving credit line by billions more, giving it a bigger cash cushion as it gears up for an IPO this year. A revolving credit facility is a flexible line of credit that can be drawn on as needed — it doesn't mean the money has been borrowed yet.
Over the next few weeks, Anthropic will also meet with public market investors to test appetite and valuation. According to The Information, the company could go public as soon as September, with a valuation target north of $1 trillion. CNBC and Bloomberg put the earliest possible date in October, though final plans aren't set.
The existing credit facility was arranged by Goldman Sachs, Morgan Stanley, JPMorgan Chase, Citigroup, and Barclays — some of which are also involved in the IPO. Companies like SpaceX and Cerebras similarly expanded their credit lines before going public.