Anthropic Could Beat OpenAI to Wall Street by Over a Year
Frontier AI labs Anthropic and OpenAI are both preparing for initial public offerings (IPOs), but Anthropic appears closer, having filed its IPO prospectus. While OpenAI initially aimed for an IPO in late 2026 before pushing it to 2027, Anthropic could go public earlier based on the progress outlined in its filing. Anthropic reported a significant revenue jump of 1,050% year-over-year to $4.6 billion in 2025 but also recorded an operating loss of $8.06 billion and a net loss (including accounting charges) of $42 billion for the same period. The company is investing heavily in AI infrastructure, spending $7.33 billion on compute power from cloud providers like Amazon and Alphabet. Anthropic plans to spend over $518 billion on computing resources in upcoming years as it scales its Claude models. With a cash reserve of $20.28 billion, the company has financial flexibility but may be incentivized by investor interest for an early IPO at potentially a valuation near $2 trillion.
Topics: AI Anthropic IPOs OpenAI tech valuation