# OpenAI eyes Q4 2026 IPO as it races Anthropic to go public

> OpenAI is reportedly racing toward the public markets. According to accounts of its plans, the company has confidentially filed its S-1 and is targeting an initial public offering in the fourth quarter of 2026, at a valuation around 920 billion dollars. That would make it one of the largest tech debuts ever and the first real public benchmark for a pure-play AI model company. It is also a race against its closest rival. Anthropic filed a draft S-1 back on June 1, after a 65 billion dollar Series H that valued it at 965 billion post-money, so the two leading labs are now jostling to be the first to test whether public investors will pay frontier-AI prices. An IPO would force a level of financial disclosure these labs have so far avoided, finally putting hard numbers on the revenue, losses, and compute costs behind the AI boom. However it prices, it will set the reference point everyone else is measured against.

_Section: [AI Funding Tracker](https://www.wortins.com/funding) · Source: Seeking Alpha · Published Friday, August 7, 2026_

## Wortins' read

OpenAI is reportedly racing toward the public markets. According to accounts of its plans, the company has confidentially filed its S-1 and is targeting an initial public offering in the fourth quarter of 2026, at a valuation around 920 billion dollars. That would make it one of the largest tech debuts ever and the first real public benchmark for a pure-play AI model company. It is also a race against its closest rival. Anthropic filed a draft S-1 back on June 1, after a 65 billion dollar Series H that valued it at 965 billion post-money, so the two leading labs are now jostling to be the first to test whether public investors will pay frontier-AI prices. An IPO would force a level of financial disclosure these labs have so far avoided, finally putting hard numbers on the revenue, losses, and compute costs behind the AI boom. However it prices, it will set the reference point everyone else is measured against.

## Source

[Read the full story at Seeking Alpha](https://seekingalpha.com/news/4544675-openai-plans-q4-ipo-ai-race-anthropic)

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