AM Markets Need to Know: Anthropic credit deal, Musk PAC, and more

Anthropic is set to significantly increase its credit facility to $15 billion, up from the previously secured $2.5 billion, according to a report by Bloomberg on September 4. This expansion comes as the company prepares to launch an IPO, with the goal of raising an amount equal to or greater than SpaceX's IPO, which raised $75 billion and later increased to $86.2 billion.

Morgan Stanley is leading the expansion of Anthropic's revolving credit facility, with Goldman Sachs, JPMorgan Chase, and Citigroup also playing key roles. These four lenders are also spearheading Anthropic's IPO. The specifics of the facility are subject to change, as Anthropic and the banks have not commented on the matter. Anthropic announced its intention to file for an IPO on June 1, submitting a draft registration statement to the Securities and Exchange Commission.

This move comes after the company made history in May by raising $65 billion in a Series H funding round, valuing it at $965 billion post-money, surpassing its previous valuation of $380 billion achieved in a February Series G funding round. In contrast, OpenAI, Anthropic's rival, plans to go public by 2027, with CFO Sarah Friar assuring employees that they should not be concerned if Anthropic precedes them in going public, as they are each navigating their own paths.