Anthropic and OpenAI Draw Investor Interest Ahead of IPOs

Investor interest remains strong for Anthropic and OpenAI as the artificial intelligence companies move toward possible initial public offerings, with analysts assessing valuations, revenue concerns and the broader AI market opportunity.

Anthropic is targeting a $2 trillion valuation, according to Reuters after reviewing the company’s S-1 investor prospectus. OpenAI is seeking a funding round valuing the company at $1.4 trillion, according to Bloomberg.

Dan Ives said investors remain focused on both companies because they are central to the AI sector’s expansion.

"I think appetite is going to be strong," said Ives.

Ives said negative developments could affect investor sentiment, while the market environment could still create opportunities around AI companies.

"Any breadcrumb that can be viewed negatively … is going to make investors nervous," said Ives.

The analyst also said investors should not avoid the AI market because of recent concerns surrounding major startups.

"It's not the time to be skittish," said Ives.

Questions about revenue estimates have increased ahead of potential IPOs. The Financial Times reported that previous annualized revenue estimates for OpenAI from investors were overstated by $20 billion.

Ives also noted that the AI market extends beyond Anthropic and OpenAI, including companies such as Palantir and Snowflake.