Anthropic Watch posted an update
Freshfields is advising the underwriters on Anthropic’s planned stock-market listing, while Wilson Sonsini is acting for Anthropic, Non-Billable reports from the company’s IPO registration filing. Three other US firms are also involved, including Cravath on some co-founder governance matters.
Why it mattersThere is a notable wrinkle: Freshfields already has a multi-year partnership with Anthropic to develop legal AI tools and access its models. For the IPO, the firm is on the underwriters’ side of the deal, not the company’s. The reported roles offer a glimpse of the legal machinery behind a major AI listing. The prospectus does not disclose a target valuation, and reports of a possible figure should not be mistaken for an agreed price.
Discuss: Does Freshfields advising the underwriters while partnering with Anthropic on legal AI raise a meaningful conflict, or is that ordinary separation of roles?
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