Hajra Naz
OpenAI, Anthropic, and SpaceX are heading into a new kind of pressure. They will soon answer to Wall Street in a direct way.
The AI race is shifting into public markets. OpenAI has confirmed IPO plans. Anthropic has also filed privately for a listing. SpaceX, which also includes Elon Musk’s xAI work, is expected to move toward a stock market debut.
These moves could give investors a clearer view of how the AI sector is performing in financial terms. The scale is huge. These listings may rank among the largest ever seen in public markets.
The shift brings a new tradeoff.
Once companies list on stock exchanges, they stop focusing only on long-term private backers. They face public investors who expect results on a steady cycle. For firms already valued at extreme levels, pressure will rise fast.
Nigel Green of deVere Group told CNN that private market patience often disappears in public trading. He said expectations feel manageable before listing but become strict afterward.
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Recent market reactions already show how sensitive AI stocks have become.
Broadcom reported strong earnings. Revenue rose sharply, and its semiconductor outlook also looked strong. Even then, its stock dropped more than 13 percent in a week. It marked its worst weekly fall since 2024.
The weakness spread across the sector. Chip stocks slid. The Nasdaq posted three straight losing sessions. The S&P 500 saw its worst day since October. A chip-focused ETF also dropped about 15 percent in the same period.
Bernstein analyst Stacy Rasgon said the issue is not performance. He said expectations keep climbing higher.
Nvidia has seen similar swings. In early 2025, it lost around 600 billion dollars in a single day. The drop came after news of Chinese AI startup DeepSeek, which raised competition concerns.
OpenAI and Anthropic will likely face the same pressure once public.
Markets will not only track growth. They will also focus on spending, profit paths, and how these companies turn AI demand into stable revenue.
Until now, both firms have controlled what they share with the public. IPO status will change that. They will need to release detailed reports and face regular analyst questions.
OpenAI has already shown rapid growth. In March, its valuation reached about 852 billion dollars after a funding round. It also reported about 2 billion dollars in monthly revenue.
ChatGPT’s adoption has also been fast. Sensor Tower data shows it reached 1 billion users faster than major platforms like TikTok and YouTube.
Anthropic has also expanded quickly. Its valuation jumped sharply this year. It reported a 47 billion dollar annualized revenue run rate. Some data also shows rising adoption among business customers.
Ramp reported that more firms used Anthropic tools than OpenAI tools in May.
Read More: OpenAI plans to expand ChatGPT into a super app before public listing
Public listings suggest confidence in long-term growth. Still, timing remains unclear. Neither company has confirmed exact listing dates.
Once public, leaders like Sam Altman and Dario Amodei will face deeper scrutiny. Investors will question product plans, costs, competition, and revenue models on a regular basis.
Even product choices may come under scrutiny. Decisions that passed quietly in private markets may become debated topics in public ones.
The core shift is simple. Private investors can wait. Public markets move on shorter cycles.
