Nvidia-backed AI start-ups, OpenAI and Anthropic, are eyeing IPOs as early as 2026. Nvidia’s GPUs dominate over 80% of the AI accelerator market, providing a solid foundation for these companies. Currently, investors gain indirect exposure to them through Nvidia shares, with the chipmaker investing significantly in both firms.
OpenAI, founded in 2015 and known for ChatGPT and other AI tools, anticipates revenues of $100 billion by 2028, despite not expecting profitability until 2030. Its estimated valuation stands at $750 billion, leading to a price-to-sales ratio of 58.
On the other hand, Anthropic, established in 2021, has also seen remarkable growth, projecting revenues of $40 billion by 2028. However, it has a lower valuation of $350 billion, with expectations for profitability commencing in 2028. While both start-ups may represent high-value stocks, OpenAI appears more attractive for investors.
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