With both OpenAI and Anthropic in the midst of highly visible fundraising campaigns, investors have a rare opportunity to compare the trajectories of the two companies.
Talking to investors who have backed both — and are considering participating in the current capital raises — you can see a clear divergence in how they are viewed. In short, Anthropic is distancing itself from its rival, while OpenAI is thirsting for a comeback story.
Even with the headwinds facing the AI industry these days — including what promises to be a much tougher political climate after Democrats’ resounding victory in Tuesday’s midterms — Anthropic’s proposed IPO still feels like it’s on track, according to investors we spoke to.
One of them, who has backed both OpenAI and Anthropic, described an “infinite demand” for Anthropic’s shares among long-term investors like mutual funds. He said Anthropic was “bulldozing right through” the bumpy landscape and was confident the planned IPO would happen before Thanksgiving. The fact that Anthropic has been more friendly to Democrats than most of the industry doesn’t hurt.
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