Goldman Sachs and Morgan Stanley are assembling separate, dedicated teams for the potential initial public offerings of OpenAI and Anthropic. This unusual measure aims to prevent conflicts of interest and protect confidential information between the rival artificial intelligence firms.
The arrangement is rare for direct competitors using the same lead underwriters. This dual mandate highlights the dominance of both banks in the technology sector. OpenAI and Anthropic are currently preparing for what are expected to be two of the largest public offerings in history.
Bankers who worked on the recent SpaceX IPO are excluded from preliminary filings for both AI companies. SpaceX is also considered a competitor to these firms. These internal separations signal that preparations for the highly anticipated market debuts are advancing.