Anthropic and OpenAI Poised for Massive Valuations as AI Giants Challenge Big Tech

Leading artificial intelligence (AI) developers Anthropic and OpenAI are drawing intense global market attention as they move toward initial public offerings (IPOs) or pursue massive new rounds of private investment. According to an analysis by T Times TV, these companies have achieved such rapid growth within just a few years of founding that they are now threatening the market capitalization of established Big Tech giants.

Anthropic's IPO Push and 3,000 Trillion Won Valuation Forecast

Anthropic has entered formal IPO proceedings by privately submitting an S-1 registration statement. Industry observers suggest that, considering the political schedule in the United States, the company may enter the public offering process around the end of this year. During a funding round this past May, Anthropic was valued at approximately 1,400 trillion won. Given the relationship between Pre-IPO valuations and market capitalization at the time of listing, industry experts project Anthropic's valuation could reach at least 3,000 trillion won upon going public.

This high valuation is driven by explosive revenue growth. Beyond paid subscription models, Anthropic generates revenue through technology distribution via APIs. In particular, as corporate adoption of AI accelerates, the Claude model's high reputation in the coding field is cited as a major revenue driver. While revenue for 2025 was at a scale of approximately 6 to 7 trillion won, expected revenue for this year is projected to reach 80 trillion won. Given that third-quarter revenue recorded approximately 22 trillion won, analysts suggest the annual target is well within reach.

OpenAI's Delayed IPO and Large-Scale Private Investment

OpenAI had originally aimed to go public this year but has postponed its IPO schedule due to various issues. Currently, instead of an IPO, OpenAI is pursuing additional investment from private investors. Notably, the scale of the ongoing investment discussions is reportedly much higher than the offering prices considered during previous IPO considerations. This is interpreted as a strategic decision by the company to secure funds in the private investment market, where it can be recognized at a higher valuation, rather than rushing an immediate IPO.

OpenAI's valuation is also astronomical. While it was valued at approximately 1,200 trillion won during a funding round this past March, recent reports suggest its valuation could exceed 1,900 trillion won considering the scale of the additional investment being sought. If its valuation is even higher at the time of an IPO, it is expected to set an unprecedented record in IPO history, similar to the case seen with SpaceX.

The AI Revolution and New Players Challenging Big Tech

While it was difficult for new players to surpass established Big Tech companies during the mobile revolution era, the current AI revolution is showing a different pattern. Anthropic and OpenAI are shifting the market landscape, growing to scales that fluctuate around 1 trillion USD (more than approximately 1,300 trillion won) only a few years after their founding. This acts as a powerful movement following the lead of top-tier companies such as Nvidia and Microsoft.

However, this rapid growth is accompanied by immense cost burdens. Despite its steep revenue growth, Anthropic is experiencing significant operating and net losses due to investments in infrastructure and other areas. This profit structure and the scale of expenditure are expected to be key variables determining the direction of their valuations depending on the roadmaps they present during the IPO process.

Source: original video (YouTube)