OpenAI, Anthropic File for IPOs as $47 Billion AI Run Rates Face Cost Backlash

3 articles · Updated · CNBC · Jun 26

OpenAI and Anthropic confidentially filed for IPOs in early June, moving toward potentially historic listings as enterprise customers start pushing back on soaring AI bills.
Lindy shifted 100% of its traffic from Anthropic's Claude to DeepSeek to cut costs, a move CEO Flo Crivello said will save the 25-person startup millions within months.
That spending squeeze is spreading: Uber introduced AI spending tiers starting at $1,500 a month after burning through its annual AI budget in four months, while consultants say clients are delaying deployments until ROI is clearer.
The timing matters because Anthropic reported a $47 billion annualized run rate in May and OpenAI was tracking near $25 billion earlier this year, growth analysts say may slow as companies cap token use.
Cheaper rivals from Microsoft, Amazon and Google are intensifying the pressure with lower-cost models and routing tools, while OpenAI may wait until 2027 to list as both companies seek fresh capital.

Sources

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The Trillion-Dollar AI IPO Race: OpenAI and Anthropic’s 2026 Public Market Showdown and Its Impact on Investors, Regulation, and the Future of Artificial Intelligence

Overview

In June 2026, OpenAI and Anthropic made major moves toward going public, signaling a new era in artificial intelligence. Their confidential filings and public statements have sparked an intense race to capture investor interest, with both companies aiming for trillion-dollar valuations that could reshape the industry. This excitement is reflected in the broader AI market, where investor confidence is high and sector ETFs have surged. OpenAI’s leadership, including its CFO, emphasized the company’s readiness for public markets, highlighting how these developments set the stage for a defining moment in AI investment and growth.

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