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Anthropic IPO a jackpot for Morgan Stanley and Goldman Sachs, but investment bankers fear losing their jobs to AI

The Australian Financial Review

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Details

Date Published
7 Sept 2026
Priority Score
2
Australian
Yes
Created
7 Sept 2026, 10:00 am

Authors (1)

Description

Investment banking revenue is up 45 per cent this year, and that’s without the artificial intelligence giant’s public listing. How long can it last?

Summary

This article explores the paradox of Wall Street firms profiting from the public listing of frontier AI labs like Anthropic while simultaneously facing internal displacement from AI automation. It highlights the massive financial stakes involved in the commercialization of large-scale models and the rapid integration of these technologies into high-stakes financial services. While the text touches on the 'existential dread' of professional obsolescence, it primarily focuses on the economic and labor market implications of advanced AI rather than technical safety or catastrophic physical risks. The piece serves as a marker for how frontier AI capability advancements are reshaping global financial structures and the incentives driving rapid AI deployment.

Body

CompaniesChanticleerPrint articleSep 7, 2026 – 10.12amGee, investment bankers like to get excited about themselves.No one really cares whether Morgan Stanley or Goldman Sachs is named first in Anthropic’s initial public offering prospectus except the bankers, and even then, they’re likely to be paid the same (as they were at SpaceX).Loading...SaveLog in or Subscribe to save articleShareCopy linkCopiedEmailLinkedInTwitterFacebookCopy linkCopiedShare via...Gift this articleSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? LoginLicense articleRead MoreChanticleerOpinionInvestment bankingWall StreetAnthropicIPOFetching latest articles