OpenAI Inc. and Anthropic PBC Plan Initial Public Offerings for 2026

AI start-ups OpenAI Inc. and Anthropic PBC are preparing for potential initial public offerings in 2026, supported by significant backing from chipmaker Nvidia Corporation. Nvidia Corporation has committed $100 billion to OpenAI Inc. and $10 billion to Anthropic PBC to fuel their growth and infrastructure needs.

OpenAI Inc. plans to deploy at least 10 gigawatts of AI data centers using Nvidia systems. The company reported 2025 revenue of approximately $13 billion with a $750 billion valuation. While OpenAI Inc. targets $100 billion in revenue by 2028, it does not expect to reach profitability until 2030.

Anthropic PBC reported 2025 revenue of $4.5 billion with a $350 billion valuation. The company announced plans to purchase $30 billion of computing capacity from Microsoft Azure, which utilizes Nvidia systems, and contract an additional 1 gigawatt of capacity. Anthropic PBC expects positive free cash flow in 2027 and profitability by 2028, with 2028 revenue targets between $40 billion and $70 billion.