Markets
May 29, 2026
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Key Takeaways
- The valuation of Claude developer Anthropic has hit $965 billion, surpassing the level of rival AI developer OpenAI
- The latest funding, announced Thursday, was led by Altimeter Capital, Dragoneer, Greenoaks and Sequoia Capital
- In just 15 months, Anthropic’s revenue has boomed from $1B to $30B
The valuation of Claude developer Anthropic has hit $965 billion, surpassing the level of rival AI developer OpenAI ahead of their IPO debuts. The latest funding, announced Thursday, was led by Altimeter Capital, Dragoneer, Greenoaks and Sequoia Capital, adding $65B to Anthropic’s valuation. OpenAI was last valued at $852 billion post-money in March 2026.
Anthropic vs OpenAI: Which IPO Will Perform Better?
The AI sector is becoming increasingly crowded with popular AI agents. Claude, ChatGPT and now even xAI, operated by Elon Musk, are breaking ground. Both Anthropic and OpenAI are planning to tap the public market, possibly as quickly as this year, to acquire the computational resources necessary to power their services and train new models. OpenAI had been working with bankers at at firms including Goldman Sachs and Morgan Stanley in prep for the filing. However, an exact date estimate for the IPO launch has gone cold.
With Anthropic’s pre-IPO valuation now topping OpenAI, many experts suggest that all the momentum is in the Claude developer’s corner. Anthropic has struggled to meet demand in recent months, forcing it to institute usage limits during peak hours. The company has also begun to incentivize off-peak use by offering more compute during those hours. However, it has picked up plenty of big backers in recent weeks, including its latest funders and Amazon (AMZN). Anthropic has set itself apart from OpenAI as an enterprise AI company, with the US government working with the firm.
Also Read: Microsoft, Dell Each Get $9.7B From US Government to Cut Costs
Furthermore, Anthropic’s recent explosion in 2026 compared to OpenAI proves that competition bodes well for IPO prospects. In just 15 months, its revenue has boomed from $1B to $30B. Anthropic’s latest investor update is putting fresh attention on the company’s growth. This comes as competition in AI starts shifting from hype to actual revenue. The company is projecting $10.9 billion in Q2 revenue, more than double the $4.8 billion it generated in Q1.
OpenAI still commands a far larger consumer user base, but Anthropic has closed the enterprise gap and, by some measures, overtaken it in API revenue. The enterprise AI market has shifted dramatically since 2025. OpenAI’s share of the enterprise LLM market reportedly declined to 50% as of early 2026. Anthropic sits at 32% as of April 2026, showing its models are dominating coding benchmarks. This is arguably the most significant data point in the entire Anthropic vs OpenAI comparison, because enterprise contracts drive the majority of high-margin revenue.
Overall, with both IPOs set to launch by the end of this year, the stock offerings will likely be great choices for investors. While buying on IPO day is a bit risk, analytically, Anthropic is viewed as a more concrete option as of today.
Also Read: Cloud Data Company Snowflake (SNOW) Collabs with AWS: Stock Surges 34%
