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OpenAI Stays Private as Anthropic Prepares for IPO
Anthropic and OpenAI are choosing different paths for raising money.
Anthropic has filed paperwork to sell shares to the public.
Its stock listing is expected after the US midterm elections in November.
OpenAI CEO Sam Altman says OpenAI will stay private for now.
He believes its artificial intelligence systems are changing quickly.
He also says safety rules for these systems are still changing.
Altman worries that public investors might pressure OpenAI to focus on money instead of safety.
Instead, OpenAI is trying to raise at least $30 billion from private investors.
Anthropic has filed an IPO prospectus and expects to list after the US midterm elections in November.
OpenAI CEO Sam Altman said OpenAI will not pursue an IPO yet.
Altman said major changes in model capabilities and safety requirements could make public markets risky for OpenAI.
He argued that investor pressure could push the company to prioritize financial expectations over safety.
OpenAI is seeking at least $30 billion in private funding at an estimated $1.4 trillion valuation.
- Who
- Anthropic and OpenAI, including OpenAI CEO Sam Altman.
- What
- Anthropic is pursuing an IPO, while OpenAI is remaining private and seeking major private funding.
- Where
- The companies’ public-listing and funding plans concern the US market; the article does not specify a more precise location.
- When
- Anthropic’s listing is expected after the US midterm elections in November; Altman made his comments at OpenAI DevDay 2026.
- Why
- Altman said changing model capabilities and safety requirements could make investor pressure conflict with OpenAI’s safety priorities.
OpenAI’s private approach
Anthropic’s public-market approach
Timing of a stock-market listing
OpenAI’s private approach
Sam Altman says OpenAI should remain private while model capabilities and safety requirements are undergoing major changes.
Anthropic’s public-market approach
Anthropic has filed an IPO prospectus and expects to list after the US midterm elections in November.
How to raise capital
OpenAI’s private approach
OpenAI is seeking at least $30 billion from private investors at an estimated $1.4 trillion valuation.
Anthropic’s public-market approach
Anthropic is pursuing access to public-market investment through an IPO.
Safety and investor pressure
OpenAI’s private approach
Altman says going public could pressure OpenAI to prioritize investor expectations over safety, a trade-off he is unwilling to make.
Anthropic’s public-market approach
The article does not state Anthropic’s position on whether an IPO could affect its safety priorities.
Key facts
- Anthropic status
- Has filed an IPO prospectus.
- Expected listing
- After the US midterm elections in November.
- OpenAI status
- Will not pursue an IPO for now.
- OpenAI fundraising target
- At least $30 billion in private funding.
- OpenAI estimated valuation
- Around $1.4 trillion.
- Altman’s concern
- Public-market pressure could favor investor expectations over AI safety.
Sources
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