Copyright ©2026 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

The Claude chatbot maker’s proposed expansion of its so-called revolver is drawing a clutch of banks seeking to bolster their pitch for roles on the IPO, said the people, who asked not to be identified because the information isn’t public.

Discussions are ongoing and the company could decide to limit the size of the revolver to the target or even below, the people said.

Anthropic has asked the most active banks leading the credit line to lend about $1.25 billion, with the next level of active banks being encouraged to offer around $1 billion, and with the commitments dropping to roughly $750 million and lower for less active roles, some of the people said.

Generally, in syndicated loans, the higher the commitment of a bank, the higher the fees it gets paid by a borrower. When a large capital market transaction is expected, a higher ranking in a loan is likely to correspond to a more active role in the upcoming deal.

Live Events

A representative for Anthropic declined to comment.
The AI developer’s race to go public gives it an opportunity to follow the lead of companies like SpaceX, which expanded its revolving credit facility to $5 billion in May from an earlier $1.5 billion, the prospectus showed, just a month before its record-breaking IPO. The bank lineup on that offering was substantially the same as those working on the IPO.A $10 billion-plus revolving credit line would be a substantial increase over a $2.5 billion five-year facility Anthropic secured last year, with participation from Morgan Stanley, Barclays Plc, Citigroup Inc., Goldman Sachs Group Inc., JPMorgan Chase & Co., Royal Bank of Canada and Mitsubishi UFJ Financial Group, according to a LinkedIn post at the time.

Anthropic is working with Morgan Stanley, Goldman Sachs and JPMorgan on the IPO, Bloomberg News has reported.

The expanded lending facility comes weeks after banks led by Morgan Stanley were in talks to line up $15 billion of debt for an Anthropic data-center project in Texas, backstopped by Alphabet Inc.’s Google, Bloomberg News reported. That package for data-center developer Nexus Data Centers would consist of a $14 billion bridge loan and a revolving credit facility, people familiar with the matter have said.

The AI race has fired up the IPO market, with listings this year raising $257 billion, excluding blank-check firms and other financial vehicles, according to data compiled by Bloomberg. That’s the most raised in a year since 2021, the data show.

Anthropic and its rival OpenAI have filed confidential paperwork to go public, with Anthropic expected to make its Wall Street debut as soon as this fall, ahead of OpenAI.

Bank of America Corp. handed a $520 million credit line to OpenAI earlier this summer as it joined an existing undrawn facility set up by competitors, Bloomberg News reported, boosting the capital available for OpenAI to more than $5 billion.

Anthropic’s run rate, a metric that projects full-year revenuefrom a shorter period, hit $65 billion by the end of July, Bloomberg News reported on Monday. The dramatic acceleration in revenue bolsters Anthropic’s plans for a public listing.

The company reported a preliminary revenue figure of more than $11.5 billion in its latest completed quarter, compared with $787 million in the corresponding period in 2025, according to documents seen by Bloomberg News. It also reported positive adjusted operating income for the quarter, the documents show.

Anthropic is meeting with investors ahead of its potential mega-IPO, people familiar with the matter said in July.

Home Depot customers are still spending on their homes, with smaller projects supporting demand as Americans contend with elevated mortgage rates and high home prices.

The home improvement retailer said Tuesday that second-quarter sales rose 5.7% from a year ago to $47.9 billion, while comparable sales increased 1.7%. Comparable sales in the U.S. climbed 1.3%. The results came as consumers continued to favor smaller-scale home improvement work over larger projects.

“Our second quarter results exceeded our expectations. We saw broad-based demand across the business as customers continued to engage in smaller projects,” Home Depot Chief Financial Officer Richard McPhail said.

Shoppers also spent more per transaction. Home Depot’s average ticket rose 2.8% from a year earlier to $92.50, while comparable customer transactions declined 1%.

IS MIAMI REALLY COSTLIER THAN NEW YORK CITY? WHY TOP DEVELOPERS SAY THE MATH STILL FAVORS FLORIDA

Customers shop at a Home Depot store on August 19, 2025, in Chicago, Illinois. (Scott Olson/Getty Images / Getty Images)

The spending pattern comes as the housing market remains constrained by affordability pressures, potentially limiting demand for larger renovations that are more likely to require financing.

Home Depot confirmed hundreds of job cuts tied to its Atlanta-based support center. (Mario Tama/Getty Images / Getty Images)

Existing-home sales fell 1.7% in July from the previous month to a seasonally adjusted annual rate of 4.06 million, according to the National Association of Realtors. Meanwhile, the median existing-home price rose 2% from a year earlier to $434,100.

Borrowing costs also remain elevated. The average rate on a 30-year fixed mortgage was 6.67% as of Aug. 13, according to Freddie Mac, up from 6.58% a year earlier.

MAKER OF ICE CREAM SOLD AT GROCERY STORES NATIONWIDE FILES FOR BANKRUPTCY AS IT APPEALS $23.8M JUDGMENT

High borrowing costs and home prices can raise the hurdle for home purchases and larger renovation projects, even as homeowners continue spending on smaller projects around the house.

Home Depot announced it will cut about 800 jobs tied to its Atlanta store support center as part of a corporate restructuring. (Brandon Bell/Getty Images / Getty Images)

Home Depot reported second-quarter net earnings of $4.8 billion, or $4.79 per diluted share. Adjusted earnings were $4.92 per share.

CLICK HERE TO GET FOX BUSINESS ON THE GO

Despite the uneven housing environment, the Atlanta-based retailer reaffirmed its fiscal 2026 outlook. Home Depot continues to expect total sales growth of approximately 2.5% to 4.5% and comparable sales growth ranging from flat to 2% for the year. The sales guidance is consistent with the outlook Home Depot issued earlier in fiscal 2026.

Yes. Corporate subscriptions are available for teams and organisations, with discounted rates as user numbers increase. Pricing starts from $1,625 + GST per user.
Get in touch
to discuss the right option for your organisation.

Business News subscriptions are used by executives, investors, consultants and professionals who need to stay informed and make better decisions about the WA market. When you subscribe you’ll get

• Unlimited access to WA’s most trusted business journalism
• Data & Insights — detailed profiles of WA companies, people, projects and deals
• MyBN — a personalised feed based on the companies, people and sectors you follow
• Special publications and industry reports
• Daily and weekly email newsletters

Data & Insights is a research tool built specifically for the WA market. It draws on more than 30 years of Business News reporting, updated regularly to reflect what’s happening now. Use it to:

• Look up detailed profiles of WA companies, including financials, directors and ownership
• Find decision-makers and track their career movements
• Research live and completed projects across WA industries
• Monitor deals, appointments and market activity
• Access industry rankings and league tables

Data & Insights is updated daily by our dedicated research team, which uses the latest announcements, ASX filings and editorial coverage to keep our person, company, list and project records up to date.

Business News welcome all opportunities to make our dataset accurate, complete and current, so if you have an update request, please email the team at
general@businessnews.com.au, and we’d be happy to assist.

MyBN
is part of every subscription. It’s your personalised view of Business News. You can follow the companies, people, sectors and projects that matter to you, and get a news feed and alerts tailored to your interests. You can save articles to read later and retain only what you need.

Only subscribers have full access to all content on the Business News website.

If staying informed about the WA economy is part of your job, and/or you’re looking for networking opportunities in WA, Business News is built for you.

Business News subscribers are:

• Executives and directors tracking competitors, clients and market movements
• Investors and advisers researching companies, deals and industry trends
• Consultants and professionals staying across sectors relevant to their clients
• Business owners looking for leads, context and market intelligence

Most Business News publications cover national or global markets. Business News is focused entirely on Western Australia, which means the journalism, the data and the intelligence are all built around WA companies, people and projects — not adapted from a national feed. Data & Insights, included with every subscription, combines more than 30 years of WA-specific editorial research with live business data. There’s no comparable product for the WA market.

The Morning Digest Email provides a comprehensive wrap of the major headlines, relevant to WA business, and includes with a snapshot of the overnight news covering oil, gold and ASX-listed companies.

The Afternoon Wrap Email focuses on the news covered by our team of journalists during the course of the working day, including exclusive stories and analysis, all of which relates to WA business and the local economy.

The BN Weekender Email contains a wrap of the Business News from the week that was, highlighting the top stories in each area of WA business.
Sign up for free.

We’re happy to help.
Get in touch
and our team will come back to you.

New York’s business climate is back in the spotlight after Gov. Kathy Hochul’s pause on new hyperscale data centers added to a broader debate over whether the state’s energy and economic policies are pushing investment elsewhere.

Rep. Mike Lawler, R-N.Y., joined FOX Business’ Cheryl Casone on “Mornings with Maria” to discuss New York’s energy policies, business climate and continued taxpayer out-migration.

New York Gov. Kathy Hochul speaks during a press conference. (Michael M. Santiago / Getty Images)

Hochul announced a statewide moratorium of up to one year on July 14 on new hyperscale data centers while New York develops a regulatory framework intended to protect utility ratepayers and address the facilities’ energy and infrastructure demands. The pause applies to state environmental permits for new hyperscale data centers.

Lawler argued the move sends the wrong message to companies considering investing in New York.

“What she is saying is, don’t come here. Go do your business elsewhere, which is why New York State leads the nation in out-migration,” Lawler said. “It’s why it is a terrible place to do business and why people are expanding in Florida and Texas and Tennessee and North Carolina and South Carolina and elsewhere. We have the highest tax burden and the worst business climate.”

TRUMP WARNS NEW HOCHUL, MAMDANI PIED-À-TERRE TAX COULD ACCELERATE NYC WEALTH EXODUS

New York has experienced net out-migration among part-year resident tax filers every year since 2015, according to state Comptroller Thomas DiNapoli’s office. In 2024, 134,913 part-year resident filers left the state while 121,251 moved in, resulting in a net loss of 13,662 filers. The pace, however, slowed considerably from the pandemic-era surge.

Lawler also tied the state’s business challenges to its energy policies, pointing to nuclear plant closures, restrictions on natural gas and pipeline projects and electrification requirements.

NEW YORK BECOMES FIRST STATE TO FREEZE NEW AI DATA CENTERS IN MOVE CRITICS WARN COULD DRIVE AWAY JOBS

“If you want to address these problems, you need to have a coherent economic and energy policy,” Lawler said. “And that is fundamental if New York is going to prosper moving forward.”

CLICK HERE TO GET FOX BUSINESS ON THE GO