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Jim Cramer Says Anthropic's IPO Makes Goldman Sachs a Buy
Jim Cramer said he would buy Goldman Sachs shares after Anthropic filed its IPO prospectus on Monday. Goldman Sachs and Morgan Stanley are lead underwriters. Cramer noted no single customer was more than 10% of Anthropic's revenue in the nine months through Sept. 30.
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What happened
Jim Cramer said he would buy Goldman Sachs shares after Anthropic filed its IPO prospectus on Monday. Goldman Sachs and Morgan Stanley are lead underwriters. Cramer noted no single customer was more than 10% of Anthropic's revenue in the nine months through Sept. 30.
Confirmed
Global impact / market context
Underwriting an IPO means arranging the share sale and earning fees. A large Anthropic listing could bring Goldman Sachs and Morgan Stanley revenue, which is likely why Cramer sees Goldman shares as attractive for investors.
Analyst inference
The filing flags cloud-spending commitments due even if AI demand slows, a cost risk for the company. Cramer named Amazon and Microsoft as likely candidates to sell stock, while calling Alphabet unlikely after its June sale.
Analyst inference
What to watch
- Anthropic's filing flags cloud-spending commitments that are due even if AI demand slows, which is a fixed cost the company must pay regardless of revenue. Confirmed
- If Amazon and Microsoft sell Anthropic stock as Cramer expects, that added supply could weigh on the listing's price and on the underwriters' fee outlook. Analyst inference
- Watch whether Goldman Sachs and Morgan Stanley disclose fee terms for leading the Anthropic IPO, since those terms would show the potential revenue for each bank. Proposed