AI companies are barreling toward huge Wall Street debuts. A look at the biggest players

The AP reports that Anthropic and OpenAI are looking to go public to access more capital in the race to shape the technology's future.[1]Michael Field, chief equity analyst at Morningstar, told the AP that "these companies are now burning through cash to win the AI race, and public equity is the cheapest source available"[1].According to the AP, Anthropic's "meteoric rise" and Claude's growing popularity have left OpenAI "playing catch-up."[1] The AP also says OpenAI has not yet reported that it has filed initial IPO paperwork with the SEC.[1]Reuters, as carried by The Globe and Mail, reports that Anthropic's revenue surged to about US$11.6-billion in the three months ended June 30[2], while its net loss widened to US$66.3-billion[2]. According to Reuters, some investors now value Anthropic at about US$1.5-trillion, down from roughly US$2-trillion a week ago[2].Matt Kennedy of Renaissance Capital told Reuters that "Anthropic is entering an IPO market that is far more challenging than the summer."[2]The AP reports that SpaceX's value grew to $1.25 trillion after it merged in February with xAI, Musk's artificial intelligence company[1].The AP also notes that worries about an AI bubble are looming in the background[3]. Citing Renaissance Capital, it reports that SB Energy, Nscale and DayOne Data Centers have delayed their offerings at least until December[3].