Some of the leading artificial intelligence companies are moving toward initial public offerings at eye-popping valuations. Anthropic and OpenAI are looking to go public to access more capital in the race to shape the technology’s future.
The enormous sums involved in building and maintaining artificial intelligence models, the pursuit of artificial general intelligence, which can surpass humans at many tasks, and widespread AI adoption all have led to an air of excitement around the technology that has helped propel stock market gains.
“These companies are now burning through cash to win the AI race, and public equity is the cheapest source available, particularly in a rising interest rate environment,” said Michael Field, chief equity analyst at Morningstar.
But amid the billions — even trillions — at stake, worries about an AI bubble are looming in the background along with…
