OpenAI and Anthropic have both filed confidential paperwork with the U.S. Securities and Exchange Commission to pursue initial public offerings [1, 2].
This simultaneous move signals a pivotal shift for the artificial intelligence industry. By transitioning from private entities to public companies, these firms aim to capitalize on the rapidly expanding AI market and secure the massive capital required for continued development [1, 3].
OpenAI announced its plans to seek an IPO on June 8, 2026 [1]. This announcement followed a confidential filing by rival Anthropic, which occurred in early June 2026 [2]. The timing suggests a competitive race between the two firms to be the first major AI developer to list on a public exchange [1, 3].
Both companies submitted their filings to the SEC in the United States [2, 3]. A confidential filing allows companies to keep their financial data and business strategies private while the regulator reviews the registration statement. Once the SEC clears the filing, the companies can publicly announce their intention to sell shares to the general public.
Industry observers said that this wave of activity is not limited to these two firms. Other high-profile tech entities, including SpaceX, are also viewed as part of a broader trend of massive private companies seeking public markets [3].
Because both Anthropic and OpenAI have now initiated the process, the final order of their public debuts will depend on the speed of the SEC review process and the companies' own strategic timing. Anthropic filed approximately one week before OpenAI's announcement [2], potentially giving it a head start in the regulatory queue.
“Both companies have confidentially filed paperwork to pursue an initial public offering.”
The race to go public reflects the immense capital requirements of training next-generation large language models. By moving toward an IPO, OpenAI and Anthropic are shifting from a venture-backed model to one that relies on public equity markets, which will provide greater liquidity for early investors and the funds necessary to compete in a high-cost hardware environment.
