AI IPO tracker.
The frontier AI labs are all still private. Here is what we know about their valuations, funding, and IPO plans, so you'll know the moment their shares actually list.
Anthropic
Claude
$965B post-money (Series H, May 2026)
Anthropic builds Claude, a family of frontier large language models. It confidentially filed a draft S-1 with the SEC in June 2026 and is valued at $965B post-money after its Series H round. Amazon and Alphabet are its largest strategic investors. No IPO date, ticker, or price has been set.
OpenAI
ChatGPT and the GPT model family
$852B post-money (Series F, closed March 2026)
OpenAI is the maker of ChatGPT and the GPT family of models. It confidentially filed a draft S-1 with the SEC on 22 May 2026 and is valued at $852B post-money after closing a $122B round in March 2026, with Amazon, Nvidia, and SoftBank leading the raise alongside long-time backer Microsoft. Bankers have pointed to a late-2026 listing, though reports suggest it may slip into 2027. No IPO date, ticker, or price has been set.
xAI
Grok (LLM) and the X platform
Part of SpaceX (SPCX) since 2026
xAI builds the Grok family of large language models and owns the X platform. It is no longer an independent company: SpaceX acquired xAI in early 2026, folding Grok and X into SpaceX's AI division. That means there is no separate xAI stock, ticker, or IPO. The only way to invest in xAI on the public market is to buy SpaceX (SPCX), which now houses it.
Mistral AI
Mistral models
$6B (2024 Series B)
Mistral AI is a French frontier AI lab building open and proprietary language models. It raised at a $6B valuation in 2024 and is backed by Andreessen Horowitz, Lightspeed, and others. It is one of the most closely watched European AI companies ahead of a potential IPO.
Perplexity AI
Perplexity (AI search)
$9B (2024 funding round)
Perplexity AI builds an AI-native search engine that answers questions with cited sources. It raised at a $9B valuation in 2024. The company has become a notable challenger to Google Search and is frequently cited in AI IPO discussions.
Scale AI
AI data and evaluation platform
$14B (2024 funding round)
Scale AI provides training data, evaluation, and RLHF services used by frontier AI labs including Anthropic, OpenAI, and the US government. It raised at a $14B valuation in 2024. A Scale AI IPO has been discussed but no timeline has been confirmed.
Can retail investors buy these companies?
Not yet. Frontier AI labs like Anthropic and OpenAI have both confidentially filed draft S-1s with the SEC, but neither has listed, so there's still no public ticker, and their shares aren't available through a normal broker. A confidential filing is not a commitment: a company may delay, withdraw, or pursue a direct listing or acquisition instead, so there's no guaranteed path to its shares.
The realistic way to get AI exposure today is through their public backers, Amazon and Alphabet for Anthropic, Microsoft and Amazon for OpenAI, alongside the public chip and cloud names. We track each lab's valuation and IPO status here so you're ready the moment shares list.
See how to buy AI stocks and our broker comparison for the public-market routes.