OpenAI vs. Anthropic: The IPO race

Summary

Kate Rooney reports that OpenAI is preparing to file for an IPO confidentially as soon as Friday, aiming to go public in September, while rival Anthropic is also getting IPO ready but with more fluid timing. Anthropic is on track to generate $10.9 billion in revenue in Q1, which would be its first profitable quarter. The report highlights the competitive race to go public and the different strategies of the two AI companies.

• OpenAI is preparing to file for an IPO confidentially as soon as Friday, targeting a September listing.
• OpenAI was last valued at over $850 billion in private markets.
• Anthropic is also getting IPO ready but its timing is more fluid.
• Anthropic is on track to generate $10.9 billion in revenue in Q1, topping all of last year's sales.
• Anthropic's Q1 revenue would mark its first profitable quarter.
• OpenAI is taking a more aggressive approach on data center spending and compute, viewing it as a strategic moat.
• OpenAI's aggressive spending leads to larger losses compared to Anthropic.
• The rivalry is compared to Uber and Lyft, where being first to market allows setting benchmarks.