Goldman Sachs and Morgan Stanley compete for lead underwriter role in OpenAI and Anthropic IPOs worth billions
By
Shawn Tully
An everything bagel for the brain. Substantive, layered, well-seasoned.
Summary
Goldman Sachs and Morgan Stanley are competing fiercely to secure the lead underwriter position for the upcoming IPOs of OpenAI and Anthropic, two of the most anticipated AI company public offerings. These deals could be worth up to $7 billion combined, making them among the richest profit opportunities in Wall Street history. Goldman Sachs already secured the lead left position for SpaceX's IPO scheduled for June 12. The bank that wins the lead left position for the AI IPOs stands to earn significantly higher fees and prestige compared to other underwriters involved.
Key quotes
· 3 pulledGoldman Sachs and Morgan Stanley, the two investment banks harboring the biggest market shares by far in tech IPOs, are now battling to lead looming debuts that promise the winners a pair of the richest profit pots in Wall Street history.
Goldman already captured a huge prize by clinching the position of 'lead left' book runner for the SpaceX offering scheduled for June 12.
Though both banks will play prominent roles in the two trophy deals to come, the one that gets the lead left position on the front page of the S-1 prospectus is placed to garner multiples of the potential rewards that go to
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