Anthropic IPO talks set up Wall Street showdown with OpenAI

Core Insights - Anthropic is in discussions to potentially launch one of the largest initial public offerings (IPOs) as early as next year, intensifying its competition with OpenAI in the stock market [1][2] - OpenAI has denied reports of considering an IPO in the near term, with its CFO stating that the company will not list soon [2] - Anthropic has engaged law firm Wilson Sonsini and investment banks to explore the IPO, while also hiring former Airbnb executive Krishna Rao, who has IPO experience [1][3] Company Developments - Anthropic has received significant investments, including up to $5 billion from Microsoft and $10 billion from Nvidia, valuing the company at approximately $350 billion [3] - The company announced a $50 billion AI infrastructure expansion, including new data centers in Texas and New York, and plans to triple its overseas workforce [5] Market Context - An IPO from either Anthropic or OpenAI would test investor confidence in the AI sector, which some industry leaders believe may be overvalued [4] - Executives from major financial institutions have predicted a downturn in global stock markets over the next two years, raising concerns about the sustainability of tech valuations [4]