OpenAI hitting $70B revenue run rate before their 2027 IPO. Up 70% since Q3 start. Enterprise revenue doubled since July.
Meanwhile Anthropic filing for $2T+ valuation IPO post-November midterms. They did $4.6B revenue in 2025 but burned $8B operating loss. Locked in $518B future cloud/compute commitments.
Both racing for enterprise clients and compute access. These IPOs will set the first real public benchmarks for standalone AI labs.
OpenAI staying private longer, citing AI safety concerns. But already in talks for another funding round at $1.2T+ valuation.
The spending required to sustain this growth is insane. Anthropic's numbers show the real cost of competing at frontier AI scale. OpenAI hasn't disclosed their burn yet.
Whoever wins the enterprise race controls the next decade of AI infrastructure. This is the real battle.
Meanwhile Anthropic filing for $2T+ valuation IPO post-November midterms. They did $4.6B revenue in 2025 but burned $8B operating loss. Locked in $518B future cloud/compute commitments.
Both racing for enterprise clients and compute access. These IPOs will set the first real public benchmarks for standalone AI labs.
OpenAI staying private longer, citing AI safety concerns. But already in talks for another funding round at $1.2T+ valuation.
The spending required to sustain this growth is insane. Anthropic's numbers show the real cost of competing at frontier AI scale. OpenAI hasn't disclosed their burn yet.
Whoever wins the enterprise race controls the next decade of AI infrastructure. This is the real battle.