OpenAI Prepares for 2026 IPO, Facing Rivalry from Anthropic’s Listing

TLDR

• OpenAI is preparing for an IPO in the fourth quarter of 2026.
• The company has strengthened its finance team ahead of the listing.
• Sam Altman has expressed concerns about the IPO process but continues with plans.
• OpenAI faces strong competition from Anthropic, which is also preparing for a public listing.
• Both companies are expected to attract significant investor interest due to the AI boom.

OpenAI is preparing for an Initial Public Offering (IPO) set for the fourth quarter of 2026. The company is increasing its finance team and has hired key figures like Ajmere Dale as the chief accounting officer and Cynthia Gaylor as the corporate business finance officer. While CEO Sam Altman has shown reluctance towards the public listing, OpenAI is entering the final stretch in the race with Anthropic for a public listing.

In preparation for its IPO, OpenAI has been quietly growing its finance team. The hiring of new executives shows the company’s readiness for a public offering. Ajmere Dale will oversee accounting as the chief accounting officer, while Cynthia Gaylor will lead investor relations as the corporate business finance officer. Both positions are crucial in ensuring that OpenAI’s IPO process runs smoothly. Despite Altman’s reservations about the public listing, OpenAI’s leadership is committed to the move.

OpenAI’s Sam Altman has expressed his concerns about the IPO process. In a December podcast interview, he mentioned that going public would be “really annoying.” However, the company is moving forward with its plans, and Altman’s responsibilities may shift to Fidji Simo. Simo, formerly the CEO of Instacart, now leads OpenAI’s product and business teams as the CEO of Applications. This move signals OpenAI’s intention to delegate more leadership as it enters a new phase in its development.

OpenAI Faces Intense Competition from Anthropic

OpenAI’s IPO plans come at a time when it faces strong competition from Anthropic. Founded by former OpenAI leaders, Anthropic is also racing to go public by the end of 2026. The two companies are vying to become the first AI firm to list publicly, with investors watching closely. Both companies have made significant progress in hiring top talent for their finance teams. Anthropic, for example, hired Andrew Zloto to lead capital markets and Kevin Chang from Blackstone to help with its IPO.

The rivalry between OpenAI and Anthropic is intensifying as both companies prepare for their IPOs. While OpenAI is targeting a valuation of $830 billion, Anthropic is raising funds for a public listing as well. Both companies face challenges, with massive losses as they develop AI models. However, Anthropic is expected to break even by 2028, a full two years ahead of OpenAI. The competition between these two AI giants will shape the market as investors eagerly await the opportunity to invest in their public listings.

Investor Interest and IPO Expectations

The race for the first AI IPO comes as investor interest in the sector reaches new heights. Investors are keen to gain exposure to the growing AI market, especially in generative AI. OpenAI has already attracted interest from major players, including Softbank, which is in talks to invest $30 billion. Amazon has also shown strong interest, with discussions about investing up to $50 billion. Both companies are preparing for an influx of investor interest as they approach their public listings.

Despite Altman’s hesitation about the IPO, OpenAI is moving forward with its preparations. As the company’s valuation continues to rise, the expectation is that its public offering will generate substantial investor interest. This momentum comes after a slump in IPO activity in recent years. Companies like OpenAI and Anthropic are now seen as the future of AI, and their listings are expected to be some of the largest in recent history.

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