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May 21, 2026

Quick Take on OpenAI's Record-Breaking IPO Plans

Macro ThematicEquitiesMacro Economic IndicatorsInformation TechnologyFinancials

OpenAI is reportedly planning a September IPO to raise $60bn at a $1 trillion valuation, marking the largest public offering in history. The move comes as competition with rival Anthropic heats up and retail investors scramble for direct AI exposure.

Key Takeaways

  • 1.OpenAI is preparing for a record-breaking IPO with a potential $60bn raise at a valuation exceeding $1 trillion.
  • 2.Competition is intensifying as rival Anthropic is also reportedly on track for an IPO and is generating higher monthly recurring revenue than OpenAI.
  • 3.A $1 trillion valuation would position OpenAI as the 14th largest company globally, placing it between Berkshire Hathaway and Eli Lilly.

Table of Contents

  • Appendix 1
  • Important Disclosures
  • Analyst Certification
  • Additional Information
  • International Production Locations

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Authors

Adrian Cox

Securities

OpenAIAnthropicNVDASaudi AramcoCerebrasMSFT.O

Themes

AI Monetization and Public Market EntryFoundation Model CompetitionMarket Absorption Capacity

Regions

North AmericaGlobalUnited StatesSaudi Arabia