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Based on current financial data, SEC filings, and Wall Street sources, it appears that OpenAI will go public (IPO) before Anthropic.
Although both AI giants are competing to go public this fall, the latest schedules and application processes indicate that OpenAI is a step ahead:
Comparison of OpenAI and Anthropic IPOs
OpenAI (Targeted September 2026): Led by Goldman Sachs and Morgan Stanley, OpenAI is preparing to submit a confidential draft prospectus for its IPO to the U.S. SEC by the end of May 2026 (or within days).
If there are no last-minute changes to the plans, the company aims to complete the IPO process and go public as early as September 2026.
Anthropic (Targeted October/End of Year): Anthropic is also working closely with law firm Wilson Sonsini and investment banks to prepare for its IPO.
Due to high demand for the Claude model, the company, which is approaching operational profit for the first time in the second quarter, plans to carry out its IPO as early as October 2026 or in the last quarter of the year.