Anthropic reportedly filed a confidential IPO draft on June 1 at a $965 billion valuation. Six days later, OpenAI confirmed its own process, with Goldman Sachs and Morgan Stanley involved and a target listing as early as September at $730 billion to $850 billion.
What changed
The contrast is awkward for OpenAI. It has far more users, roughly $2 billion in monthly revenue and close to 900 million weekly ChatGPT users, but it is also expected to lose heavily, with internal forecasts pointing to about $14 billion of losses in 2026.
What to watch
The two filings matter because public markets will finally see revenue, losses, customer concentration and compute costs rather than private-market marks. If either deal prices weakly, the reset will hit every still-private AI company.
Sources：TechTimes and GuruFocus reports on OpenAI IPO plans；CocoLoop