How to Buy Pre-IPO Shares in Anthropic and OpenAI (And Why You Might Not Want To)
Investors who chase these two hot AI stocks today are taking on some massive risks.
Overview
OpenAI and Anthropic, two of the world's fastest-growing AI companies, filed confidential draft S-1 registration statements with the SEC on May 22 and June 1, respectively. Both companies will likely go public in late 2026 or early 2027.
OpenAI was valued at $852 billion after its latest funding round, and it aims to go public with a market cap of $1 trillion. That would be 50 times its annualized revenue run rate of $20 billion at the end of 2025. Anthropic was most recently valued at $965 billion. With a $1 trillion IPO, it would go public at 111 times its $9 billion in annualized revenue at the end of 2025.
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Originally published at www.fool.com.