Can Anthropic Lead IPO Race Over OpenAI With an $800 Billion Valuation Edge?

Anthropic is moving closer to a possible public listing as private-market valuation talk rises to as much as $800 billion. At the same time, OpenAI remains the other company most closely watched in the same race. Investors are now looking at revenue growth, enterprise demand, IPO readiness, and the cost of running large AI systems.

Neither company has confirmed a final IPO date. However, market attention has moved beyond model launches and product demos. The focus is now on which company can show scale, stronger business demand, and a more structured path to the .

A listing by either company would mark a major step for the AI sector. For now, Anthropic has drawn extra attention because of its recent valuation jump and its rising revenue. OpenAI, however, remains close in size and still holds a large position in the market.