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 (round 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 8 June 2026 and is valued at $852B post-money after closing a $122B round in March 2026, in which Amazon, Nvidia and SoftBank were the largest investors alongside long-time backer Microsoft. In September 2026 Sam Altman ruled out a 2026 listing, so 2027 is the likeliest window. 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
Over €21B post-money (Series D, September 2026)
Mistral AI is a Paris-based frontier AI lab building open-weight and proprietary language models, best known in Europe as the sovereign alternative to the US labs. A Samsung-led €3B round in September 2026 valued it at more than €21B, a year after ASML led its previous round. It says an IPO is possible but not imminent.
Perplexity AI
Perplexity (AI search)
$20B (September 2025 funding round)
Perplexity AI builds an AI-native answer engine that responds to questions with cited sources, and the Comet browser. Its valuation rose from $9B at the end of 2024 to $20B by September 2025. It is one of the most visible challengers to Google Search, but has no confirmed IPO plans.
Scale AI
AI data and evaluation platform
About $29B, implied by Meta's 49% stake (June 2025)
Scale AI supplies the training data, human feedback and evaluations that AI labs use to build their models, and sells AI systems to the US government. In June 2025 Meta invested about $14.3B for a 49% non-voting stake and hired its founder, Alexandr Wang. Several large lab customers pulled back afterwards, and no IPO has been planned.
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.