As a race for trillion-dollar IPOs in the AI industry gathers pace, Anthropic and OpenAI are preparing to list while facing different challenges. Anthropic must persuade investors to accept its valuation based on revenue it has yet to earn in 2028. OpenAI, by contrast, is grappling with leadership uncertainty after a series of executive departures. Both companies are targeting valuations close to $1 trillion.

Tesla CEO Elon Musk said artificial intelligence could surpass the collective intelligence of humanity within five years and could reach a level that would be difficult for humans to control within 10 years. He said major AI companies should jointly review safety and security risks, including limited cross-checks before releasing next-generation models and a system for government intervention if serious problems are found. Musk also criticised OpenAI and Sam Altman, while speaking more positively about Anthropic.