OpenAI and Anthropic IPOs Will Expose AI Economics for the First Time

OpenAI's June 8 confidential S-1 filing, following Anthropic's June 1 submission, puts two frontier AI labs on track for public offerings. The eventual prospectuses will disclose audited inference costs, margin structures, and compute economics that have remained opaque in the private market. This transparency will reset how the industry models the viability and competitive positioning of foundation-model deployment at scale.