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As the tech mega-IPO race heats up, has OpenAI missed its moment?

3 June 2026 at 11:38

With rivals racing to market to raise ‘eye-popping sums’, the spotlight is now on the AI sector’s one-time ‘poster child’

A year is a long time in AI. Just 12 months ago, Sam Altman was predicting his company OpenAI would build a super intelligence and fundamentally remake society. Now the boss of the ChatGPT developer is walking back those ideas after failing to make money from ads and erotic chatbots.

Meanwhile, rivals are storming ahead with plans to expand and go public on the stock market, in what is widely expected to be a season of record-setting initial public offerings (IPOs).

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© Photograph: Kim Kyung-Hoon/Reuters

© Photograph: Kim Kyung-Hoon/Reuters

© Photograph: Kim Kyung-Hoon/Reuters

Anthropic surges as OpenAI struggles to keep up

Stock market filing illustrates AI company’s meteoric rise, while California’s tech billionaires pour cash into elections

Hello, and welcome to TechScape. I’m your host, Blake Montgomery, US tech editor at the Guardian. This week in tech, we’re discussing Anthropic’s meteoric rise, both theological and financial, and California’s unprecedented infusion of political cash from Silicon Valley.

‘Like a billionaire on acid’: Star Wars director Gareth Edwards comes out in favour of AI

To YouTube and beyond: how online gen Z directors stormed Hollywood

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© Photograph: Patrick Sison/AP

© Photograph: Patrick Sison/AP

© Photograph: Patrick Sison/AP

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