OpenAI and Anthropic Could Both Go Public by Year-End. These ETFs Let You Own Them Today.
Key takeaways
- Unfortunately, the IPO process often excludes everyday investors.
- In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia.
- Book building is the phase during which underwriters collect indications of demand from hedge funds, mutual funds, endowments, and other accredited investors to set the final offering price.
Adam Spatacco, The Motley Fool Mon, June 22, 2026 at 4:20 PM GMT+7 5 min read NVDA As Open AI and Anthropic prepare to transition from the two most valuable private companies in the world to publicly traded stocks, excitement is building among growth investors. Both artificial intelligence (AI) companies have filed confidential S-1 registration statements with the Securities and Exchange Commission (SEC), paving the way for potential initial public offerings (IPOs) by the end of the year.
Unfortunately, the IPO process often excludes everyday investors. Instead, companies work with investment banks to prepare the S-1, which details the business model, historical financials, operational risks, and governance structure. A roadshow then follows, during which executives pitch the investment thesis to large institutional buyers.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »