Anthropic and OpenAI take steps toward possible IPOs in fall 2026

In short: Two major AI companies, Anthropic and OpenAI, are taking common early steps that can lead to a stock market listing, and fall 2026 is being discussed as a possible window.

What's going on

Reporting says Anthropic, the company behind the Claude AI model, has confidentially filed a draft Form S-1 with the US Securities and Exchange Commission, or SEC. A Form S-1 is the main document a company submits when it wants to sell shares to the public (like applying for a permit before opening a store). Filing it confidentially means the company can start the review process without sharing all details publicly right away.

The same general idea is showing up around OpenAI. Several outlets have reported that OpenAI has been preparing, and in some cases has submitted, a confidential IPO filing. Some reports also say it is working with major investment banks such as Goldman Sachs and Morgan Stanley, which often help companies plan and run an IPO.

The phrase “taking more steps consistent with a company aiming to go public in the fall” refers to this pattern. Hiring leaders with IPO experience, doing legal and banking work, and setting up options for employees to sell some shares are all typical preparations.

What to watch

Neither company has publicly locked in an exact date. A confidential filing can be thought of as getting ready at the starting line, not starting the race. Watch for a public S-1 filing, which is when financial details are usually shared and an IPO timeline becomes clearer.

Source: NYTimes