Anthropic takes the lead in AI IPO race

AI startup Anthropic has taken a major step towards going public, filing confidentially for an IPO in the US. 

The timing: as companies like OpenAI, Anthropic and Elon Musk's xAI spend billions on Nvidia chips, data centres and top AI talent, access to public markets could provide a crucial funding advantage. 

With the S&P 500 and Nasdaq hitting strong gains this year and investor enthusiasm for AI remaining high, many believe the window for a blockbuster AI IPO is wide open.

Anthropic's momentum has also been accelerating. The company recently surpassed OpenAI in valuation, reaching $965 billion in its latest funding round, while its Claude chatbot business continues to grow rapidly.

It also signed a major AI computing agreement with SpaceX that could be worth nearly $45 billion by 2029.

Competition: while Anthropic has taken the lead, OpenAI isn't far behind. The ChatGPT maker is reportedly preparing its own IPO filing with Goldman Sachs and Morgan Stanley and could go public later this year. 

With both companies nearing $1 trillion valuations, investors will closely compare their growth, profitability and AI ambitions.