IPOs

OpenAI has closed the first 11 billion dollars of its latest funding round, at a valuation of 1.25 trillion dollars, Bloomberg News reported on Friday, citing people familiar with the matter. Reuters carried the report on Friday evening, November 6. The money has been wired, according to the reporting, but the round itself is not finished, and OpenAI declined to comment.

Anthropic filled in the blanks in its IPO paperwork on Monday, and the new numbers show a company growing at a pace few businesses ever reach — and spending almost as fast to keep up. In an amended Form S-1 filed with the Securities and Exchange Commission on November 2, the Claude maker reported revenue of 17 billion dollars for the three months ended September 30, up 1,127 percent from a year earlier. For the first nine months of 2026, revenue reached 33.24 billion dollars.

Anthropic made its initial public offering filing public on Monday, giving investors the clearest look yet at the finances, spending commitments and risks behind the maker of Claude. The company plans to list its Class A common stock on the Nasdaq Global Select Market under the symbol ANT, with both Anthropic and existing shareholders selling shares. Goldman Sachs and Morgan Stanley are named first among 24 underwriters. The filing does not yet set a share count or price range, and CNN reports trading could begin as soon as November 16.

Anthropic could make its initial public offering paperwork public as early as Friday, October 23, moving the maker of Claude one step closer to what could become the largest stock market debut ever. Yahoo Finance reported the timing on Wednesday, citing three people familiar with the plans. Anthropic did not respond to a request for comment.

OpenAI is racing to secure investor commitments for a funding round of about 30 billion dollars before rival Anthropic reaches the stock market, in a contest that could value the ChatGPT maker at more than 1.4 trillion dollars, Reuters reported on Monday, citing two people familiar with the matter. The timetable is unusually fast for a raise of this size, and it is aimed squarely at the calendar: Anthropic is expected to make its public market debut in mid-November.

China's AI labs are heading for public markets — and Moonshot AI just became the biggest test case.

Moonshot AI, the Beijing company behind the Kimi chatbot, has completed its final private funding round at a valuation of about $50 billion, according to Bloomberg, up from $31.5 billion this summer and roughly $4.8 billion at the start of the year. The company is now preparing an initial public offering in Hong Kong targeting the first quarter of 2027, which could raise up to $5 billion.

The race to Wall Street between the two biggest AI labs is becoming a race against the clock — and Anthropic is sprinting while OpenAI walks.

According to reporting from the Motley Fool and Reuters, Anthropic could begin marketing its initial public offering as early as the week of November 9, with trading potentially starting before Thanksgiving. The targeted valuation approaches $2 trillion, which would make it the largest IPO in history, clearing the bar set by SpaceX's June 2026 listing at roughly $1.78 trillion.

The AI industry's fight over Washington's attention has a new front. Anthropic is building a formal "presidential engagement" program to work directly with both parties' 2028 presidential candidates on AI policy — a dedicated in-house political operation that experts say they have never quite seen from a technology company.

The biggest AI scare of the week was not a model mishap — it was a spreadsheet. The Financial Times reported Thursday that OpenAI told prospective investors its annualized revenue run-rate was approaching $50 billion at the end of September, about $20 billion below the $70 billion figure that had been circulating among investors. AI infrastructure stocks slid on the news: Nvidia fell nearly 3%, Oracle shed close to 6%, and Arm dropped more than 6%.