Anthropic warned in its IPO filing that it may need to raise more money sooner than it expected, but the S-1 says little about whether it’s seeking an investment-grade rating, according to Bloomberg. As of June 30, Anthropic owed Amazon $6.2 billion through convertible notes, and it can draw another $77 billion of those notes from Amazon, Broadcom, and Google. Leases that haven’t started yet, mostly for compute, jumped to $321 billion by the end of June from about $50 billion in December. Anthropic’s $15 billion credit line from a Morgan Stanley-led bank group would shed its guarantees and collateral if two of the three major agencies rate the company investment grade, but none of them has published a rating yet.
