About 90 VC firms hold stakes in both OpenAI and Anthropic as both AI giants prepare for IPOs. Here's what the 42% investor overlap means for markets.

From Anthropic to SpaceX to OpenAI, tech giants are looking to take their shares public to access more capital in the race to shape the technology's future.

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