Anthropic is advancing a credit facility of up to $15 billion ahead of an anticipated IPO while refusing to join the industry’s model price war, arguing it will pursue only business that creates customer value. Sources cited by Bloomberg said Morgan Stanley is leading the facility, with Goldman Sachs, JPMorgan and Citi in major roles and Barclays and Wells Fargo also participating, a step banks often complete before formal IPO roles are set. Chief Commercial Officer Paul Smith said he has zero interest in buying market share through price cuts and would rather help customers extract maximum value from the models, a stance read as a contrast with OpenAI’s aggressive summer reductions. Anthropic kept list pricing flat on its new Fable 5.1 model for programming and scientific tasks while cutting cache-read pricing by 75% in some cases, estimating typical workload costs down roughly 25% versus Fable 5 and as much as about 45% for complex coding and highly agentic work. Smith said he has tripled the sales team over the past year as annualized revenue projections grew more than tenfold, with enterprise buyers moving from broad experimentation to tighter role- and budget-based control even as Claude usage keeps rising; Claude Code spreads quickly among developers, while Claude Cowork for knowledge workers needs deeper integration. He declined to discuss IPO timing but said a listing would not change the company’s mission or operating logic. In Japan, NEC said on September 2 it will from late September offer BluStellar Intelligent Managed Service security tools using frontier AI from OpenAI and Anthropic, initially for finance, manufacturing and distribution, targeting ¥30 billion (about $192.8 million) in revenue within three years after becoming Anthropic’s first Japanese strategic partner in late April. Bloomberg has separately reported the revolver would top a prior roughly $10 billion target and last year’s $2.5 billion line, that Anthropic is on track for annualized revenue above $65 billion, and that the company is preparing a U.S. listing that could raise as much as SpaceX or more after large 2026 private rounds.