OpenAI Accelerates IPO Preparations To Beat Anthropic

OpenAI is accelerating preparations for a fourth-quarter initial public offering, holding informal talks with Wall Street banks and hiring finance executives including Ajmere Dale and Cynthia Gaylor, according to recent reports. The company, valued around $500 billion and seeking up to $100 billion in pre-IPO funding, faces competition from Anthropic and broader market scrutiny over large compute commitments and persistent cash burn.