The two most valuable private companies in artificial intelligence are racing to go public. Anthropic filed its confidential S-1 registration in June 2026, targeting a fall listing with a valuation near $965 billion. OpenAI, valued at $852 billion, is preparing for a 2027 debut. Both aim to exceed $1 trillion at IPO.
This massive liquidity event will create a new class of billionaires among founders, early investors, and key executives.
The impact is already visible in crypto markets. Unofficial Solana-based tokens tracking the pre-IPO valuations of both companies plunged roughly 40% in May 2026 after the companies warned these structures do not comply with their regulations.
Experts project the combined IPOs could absorb more than $240 billion in capital, a sum that dwarfs the total market cap of all but the largest cryptocurrencies.