As OpenAI and Anthropic Race Toward IPOs, Trust Becomes the Real Product

As OpenAI and Anthropic Race Toward IPOs, Trust Becomes the Real Product

Generative A.I. is entering its most competitive phase yet. On June 1, Anthropic filed confidential IPO paperwork with the SEC. A week later, OpenAI announced it had done the same. Meanwhile, SpaceX, fresh off its option to acquire A.I. coding startup Cursor at a reported $60 billion valuation, is now signaling enterprise ambitions.  Two companies, one week apart, a combined valuation north of $1.8 trillion, and yet a single question hangs over …

Altman cools on IPO talk as Polymarket prices Vance at 19.55% for 2028

Sam Altman said he is “0%” excited to be a public-company CEO as OpenAI reportedly filed confidential preliminary SEC paperwork that can precede an IPO. (Read More)

Anthropic, OpenAI Pursue IPOs as Enterprise AI Spending Faces Pushback

TLDR: OpenAI’s 2025 net loss hit $38.5 billion despite revenue tripling to $13.07 billion overall. Uber, Amazon and JPMorgan now restrict employee AI usage after costs spiraled unexpectedly. Anthropic and OpenAI filed confidentially for IPOs, both targeting valuations near $850 billion. Chinese models DeepSeek and Kimi undercut Anthropic and OpenAI pricing in benchmark cost tests. Anthropic and OpenAI are pushing toward public markets while fac…