OpenAI and Anthropic share roughly 90 investors as both companies race toward IPOs

The two companies most likely to define the next decade of artificial intelligence share something beyond a mission to build superintelligence: their investor rolodex. Roughly 90 venture capital firms and money managers now hold positions in both OpenAI and Anthropic, creating an overlap that covers approximately 42% of OpenAI’s investor base.

The timing matters because both companies are hurtling toward public listings. Anthropic filed confidential IPO paperwork with the SEC on or around June 1, 2026. OpenAI is preparing a similar filing and could list as early as fall 2026.

The Pepsi-and-Coke strategy

One venture capitalist framed the logic with brutal simplicity.

“Why wouldn’t you want to be in both Pepsi and Coke? It’s the same here.”