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Goldman Sachs, Morgan Stanley Compete for OpenAI, Anthropic IPO Mandates; Combined Deal Tops $120 Billion

GateNews
AI Industry NewsStocks
According to Fortune, Goldman Sachs and Morgan Stanley are competing for lead underwriting roles in OpenAI and Anthropic's forthcoming initial public offerings today (June 10). Each IPO is projected to raise at least $60 billion, bringing the combined funding to over $120 billion. Jay Ritter, an IPO specialist at the University of Florida, stated that the lead underwriter will determine allocation of IPO shares to funds and earn significantly higher returns than other underwriters. If both companies' stocks rise 20% on their first trading day, investors would see $240 billion in paper gains, with underwriters potentially capturing over $70 billion in soft dollars—transaction commissions exceeding execution costs—with the majority flowing to the lead underwriter.
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