Anthropic to expand credit line to $15b ahead of IPO, eclipsing SpaceX

Anthropic, which is pursuing an initial public offering, plans to expand its revolving credit facility from the original $10 billion to $15 billion — a move comparable to raising the limit on a line of credit.

Bloomberg reported Thursday (local time), citing sources, that Anthropic is set to finalize the revolving credit facility at $15 billion.

The move follows a similar step SpaceX took ahead of its IPO. SpaceX expanded its revolving credit facility from $1.5 billion to $5 billion on Aug. 5, one month before its IPO, with most of the participating banks serving as IPO underwriters.

Anthropic's facility similarly involves its IPO co-underwriters, including Morgan Stanley, Goldman Sachs, JPMorgan and Citigroup. Barclays, Wells Fargo, Bank of America, Deutsche Bank, Royal Bank of Canada and UBS Group are also expected to provide expanded credit lines.

Anthropic is aiming to raise an amount through its IPO comparable to or greater than what SpaceX raised.

This year has seen a boom in the IPO market, with AI companies such as Anthropic and OpenAI following SpaceX to the public markets. The total raised through IPOs in the United States this year has reached $160.6 billion — the largest annual figure since 2021.