Why going second could be OpenAI's advantage over Anthropic
Anthropic is expected to file its S-1 publicly next week, potentially initiating a wave of AI-related IPOs that includes OpenAI. PitchBook senior research analyst Harrison Rolfes joined Yahoo Finance's Julie Hyman to discuss what he will be looking for in Anthropic's filing, including sustained revenue growth, gross margins, cash flow, and compute obligations, arguing these underlying economics are more crucial than revenue growth for market trust. Rolfes suggested that by filing second, OpenAI could benefit from observing Anthropic's debut, learning from any mistakes, and adjusting its own strategy.
The success and structure of these initial AI IPOs will set precedents for the entire sector, influencing investor confidence, valuations, and the future funding landscape for AI companies.
The episode also discusses the SpaceX debut's implications for AI listings, the potential IPOs of Databricks, Stripe, and Discord, and the prospects for non-AI related listings amidst AI enthusiasm.
