Here's the cash windfall the Anthropic IPO may bring to banks like Goldman Sachs, JP Morgan and Morgan Stanley

It stands to be a bountiful holiday quarter for some of the world's biggest banks, courtesy of the gift-giving team at Anthropic ( ANTH.PVT ).

Using the SpaceX IPO fee rate, allocations, and a range of potential proceeds, EvercoreISI analyst Glenn Schorr estimates Anthropic's offering could generate a roughly $562 million equity capital markets (ECM) fee pool. That would equal about 1% of fourth-quarter consensus EPS across the banks he covers.

In Schorr's base case, co-lead underwriters Goldman Sachs and Morgan Stanley would each haul in $112 million in fees. Bank of America, Citigroup, and JPMorgan would each rake in $84 million.

A total of 22 banks appear on Anthropic's IPO tombstone, an advertisement recognizing the investment banks and other financial firms helping take the company public.

"A successful listing could also encourage more AI companies to test the public markets, accelerate broader IPO momentum, and reinforce the view that the AI trade still has room to run," Schorr added.

Anthropic's first-half 2026 revenue surged to $16.3 billion from $1.1 billion a year earlier, the prospectus shows. The filing also discloses an $80.7 billion first-half net loss, a strong signal of aggressive AI spending in the years ahead.

Investment bankers are reportedly aiming for an astronomical listing valuation of roughly $1.5 trillion to $2 trillion.

Anthropic could debut on public markets before the end of November.

"I think this needs to be valued appropriately," Manhattan Ventures co-founder Jare Carmel said on Sozzi Unleashed . Manhattan Venture Partners is an investor in Anthropic. "I think the biggest problem that we've seen in the IPO markets over the last few years are sort of valuations that have been offsides. And this needs to be valued to sell the IPO buyer, whether that's institutional or retail. They seem to hop around, especially when they're not getting the pop that they need. And I can fully understand why a company like Anthropic wouldn't would want to value themselves fairly as opposed to, let's say, undervalued. But the reality is you need to have shareholders for the long term."

Brian Sozzi is Yahoo Finance's Executive Editor, host of the Sozzi Unleashed morning show, the ' Power Players With Brian Sozzi' podcast and a member of Yahoo Finance's editorial leadership team.