#What is the current IPO race between Anthropic and OpenAI?
The competition between two of the world’s most valuable private companies, Anthropic and OpenAI, is heating up as they prepare for an important initial public offering in the next couple of years. Anthropic filed a confidential registration for its IPO around June 1, 2026, with OpenAI following suit on June 8. Both companies are aiming for valuations that could reach astronomical figures, with Anthropic valued at approximately $965 billion following a recent funding round and OpenAI targeting a $1 trillion valuation.
#Why might the first mover not dominate?
The excitement surrounding their IPOs is tempered by the reality that being the first company to go public does not guarantee long-term success. It is important to recognize that Anthropic and OpenAI will face significant challenges, not only from each other but also from other high-profile companies entering the public market at the same time, including SpaceX. Each will have to navigate a complex review process by the Securities and Exchange Commission, which could affect their planned timelines and the execution of their strategies.
#What are the implications for investors?
The choice of Morgan Stanley and Goldman Sachs as underwriters for Anthropic underscores the institutional support behind its IPO strategy, while OpenAI’s selection of underwriters will reveal its own market confidence. As these IPOs unfold, they will likely set key pricing benchmarks for the artificial intelligence sector. If both companies manage to perform well in the public markets, a series of smaller AI firms may follow them to explore public listing themselves, further shaping the landscape of AI investment opportunities for retail investors.