OpenAI takes the lead in AI IPO horse race: 'Getting to public markets first is very important'

Key points

• Sam Altman, chief executive officer of OpenAI Inc., during a media tour of the Stargate AI data center in Abilene, Texas, US, on Tuesday, Sept.
• 23, 2025. Before the initial report on the IPO timeline by the Wall Street Journal which CNBC later confirmed, traders gave OpenAI just over a 32% chance of beating its chief private rival to the public markets.
• "Getting to public markets first is very important, given this arms race going on," said Dan Ives, Wedbush Securities' global head of technology research.
• "It sets a valuation, you're the first one to meet with investors on the road, and there's an advantage." Traders on Kalshi now see OpenAI as the favorite to go public before Anthropic, giving it an 83% chance of getting the big payday first.
• Reports that OpenAI is set to confidentially file for an IPO as soon as Friday changed prediction market traders' outlook...