Anthropic, OpenAI Are Making Other AI Bets Feel Like Second Prize

Anthropic is meeting with investors ahead of a potential blockbuster IPO as it prepares to capitalize on strong demand for AI listings.

Banks leading the offering are arranging investor meetings in the coming weeks, as the company is reportedly targeting an IPO as early as October, sources familiar with the matter told Bloomberg.

The Claude maker has hired Morgan Stanley, Goldman Sachs Group, and JPMorgan Chase to work on the IPO process. However, details regarding the IPO are ongoing and subject to change. 

Founded in 2021 by former OpenAI employees, Anthropic has quickly established itself as a key player in artificial intelligence, building tools that are reshaping how businesses approach areas like coding and cybersecurity.

In May, Anthropic overtook OpenAI as the world’s most valuable startup after raising $65 billion in Series H, valuing the company at $965 billion. Altimeter Capital, Dragoneer, Greenoaks and Sequoia Capital led the funding round.

Rival OpenAI is also chasing a trillion-dollar IPO, but new reporting suggests the listing may now slip to 2027. The artificial intelligence firm is leaning toward holding off until next year, according to a New York Times report citing three people involved in the deliberations. 

Advisers reportedly presented Altman with two options: wait until 2027 to reach the trillion-dollar mark, or settle for a smaller number and list in 2026. Altman reportedly called any reduction a "non-starter."

Meanwhile, Chinese AI company DeepSeek, which develops large language models, is also preparing for an IPO debut, potentially as early as this year, sources told Bloomberg.

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