Big banks are jockeying for a front row seat to Anthropic's potential wealth wave. According to people familiar with the process, Goldman Sachs Group Inc., Bank of America Corp., the wealth arm of Bank of New York Mellon Corp., JPMorgan Chase & Co., and Wells Fargo & Co. are talking with the company about landing spots on an employee adviser list meant to help staff handle potential payouts. Representatives for the firms and for Anthropic declined to comment.
The Claude maker recently asked firms to pitch their wealth-management offerings and to spell out fees, services and other operational details, the people said. Smaller advisory shops and boutiques also replied to Anthropic's request for information launched in recent weeks.
Silicon Valley has produced plenty of new millionaires, and this could be another big moment. Brandon Smith of Laird Norton Wetherby, that provided information to Anthropic, said it is "very reasonable" to expect Anthropic's listing will create new millionaires, and noted the firm had already been speaking with several employees. "There has been such a rapid rise in AI in a short period of time, and even though they received equity only two years ago, the likely outcome is a large dollar figure," he said. "It is equivalent to a lottery ticket." The AI firm is projected to raise an amount on par with, or exceeding, SpaceX's $86.2 billion debut when it reaches the market in coming weeks.
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Before SpaceX's IPO, a cohort of more than 1,000 of the rocket maker's current and former staff partnered with wealth advisers to negotiate better fees and lock in sophisticated, tax-advantaged financial options. It shows how far startup employees will go to manage sudden liquidity from this year's mega listings. For everyday investors, the takeaway is simple: when a high profile IPO turns staffers into newly wealthy clients overnight, the biggest financial firms scramble to win that business. That chase can influence everything from fee competition to the kinds of planning tools that become more widely available.
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