Can You Invest in OpenAI or Anthropic? The Honest 2026 Answer

No — as of mid-2026 you cannot buy stock in OpenAI or Anthropic directly, because both are private companies whose shares do not trade on any public exchange. Both have reportedly taken early steps toward going public, but neither had completed an IPO. This article lays out the factual picture: how each company is unusually structured, what "confidentially filed" actually means, and which public companies are financially connected to them — so you can separate what's real from the hype and the scams.

Why you can't just buy OpenAI or Anthropic shares

Like SpaceX before its 2026 filing, OpenAI and Anthropic raise money privately, from a relatively small group of large investors, rather than by selling shares to the public. There's no ticker symbol and no public order book. A normal brokerage account can't place an order for shares that don't trade.

That hasn't stopped a flood of "pre-IPO OpenAI shares" and "invest in Anthropic" pitches online — and that's exactly the problem. The SEC specifically warns that pre-IPO offerings are not registered with regulators and that offers of pre-IPO shares to the general public are often illegal and a common fraud. If you see an ad or a stranger offering you a slice of either company, treat it as a red flag first and a question second. (See How to spot a pre-IPO stock scam.)

OpenAI's unusual structure (and why it matters)

OpenAI is not a normal startup, and "investing in OpenAI" is genuinely complicated even for large investors. In October 2025, OpenAI completed a major restructuring (reported by Fortune and CNBC):

• The nonprofit, now called the OpenAI Foundation, controls the business and holds a large equity stake in it (reported at roughly $130 billion at the time).
• The for-profit arm became a public benefit corporation (PBC) named OpenAI Group PBC — a company legally required to balance shareholder interests with a stated public mission.
• Microsoft holds about a 27% stake in the PBC and retained rights to OpenAI's technology under a revised long-term agreement. The restructuring valued OpenAI at roughly $500 billion at the time; later reporting cited a higher valuation as additional funding closed.

The takeaway: even the equity that exists is held by a nonprofit and a small set of strategic and institutional investors. There has never been a public OpenAI share for retail investors to buy.

On an IPO: reporting in 2026 indicated OpenAI was preparing to file confidentially for an eventual public offering, but executives publicly downplayed the timing. CEO Sam Altman framed going public as "a financing event" the company wasn't focused on timing. Because a confidential draft filing isn't published on the SEC's public database, this should be understood as reported, not as a confirmed, verifiable filing.

Anthropic's structure and reported IPO step

Anthropic, the maker of the Claude AI models, is incorporated as a public benefit corporation as well. In 2026 it became one of the highest-valued private companies in the world:

• Anthropic reportedly raised a $65 billion funding round at a roughly $965 billion valuation (per Fortune and CNBC), a mark that briefly exceeded OpenAI's reported valuation.
• Its investor base includes major venture and institutional firms, plus large strategic backers — notably Amazon and Google, which have committed capital and cloud-computing resources.
• In June 2026, Anthropic was reported to have confidentially filed draft IPO paperwork with the SEC, positioning it for a possible public debut as soon as later in 2026.

As with OpenAI, "confidentially filed" means the document isn't publicly viewable yet, and an actual IPO "will depend on market conditions and other factors." No Anthropic shares were trading publicly as of June 2026.

What "confidentially filed" actually means

A confidential filing (a "draft registration statement") lets a company start the SEC review process privately before revealing its finances to the public. It's a real, common step — but it's not the same as a completed IPO, and it's not a public document you can read on EDGAR yet. So when you see a headline that a company "filed for an IPO" confidentially, the accurate reading is: it has begun the process; it has not gone public, and terms could still change or the plan could be shelved.

The public companies connected to OpenAI and Anthropic

Here's the part people are really asking about: since you can't buy these private companies, is there an indirect connection through public markets? Factually, yes — several large, publicly traded companies have financial ties to them. We list these as facts, not as recommendations:

Two essential caveats. First, owning shares of a giant like Microsoft, Amazon, or Alphabet gives you exposure to that whole company — AI is one slice of a vast business, so this is not a clean way to "bet on OpenAI." Second, and more importantly: listing these connections is not a suggestion to buy any of them. We don't pick stocks. The point is simply that the public-market plumbing exists, and you should understand it accurately rather than fall for a "secret pre-IPO access" pitch.

If your real goal is broad exposure to the technology sector and the companies driving AI — without betting on a single name — a low-cost, diversified index fund already holds the large public players. See Index funds vs ETFs and Do index funds hold new IPOs?.

The bottom line

• You can't buy OpenAI or Anthropic stock directly — both are private, with no public shares.
• OpenAI is a public benefit corporation controlled by the nonprofit OpenAI Foundation, with Microsoft holding ~27%.
• Anthropic is a public benefit corporation valued near $965 billion in 2026, backed by Amazon and Google.
• Both reportedly filed confidentially toward an IPO in 2026 — a first step, not a completed offering.
• Several public companies are connected to them, but that's context, not a stock tip — and any "pre-IPO shares" offer to the public is a classic red flag.

Educational only — not financial advice. The companies named here are mentioned to explain factual relationships, not as recommendations to buy or sell anything. Private-company valuations and IPO plans change quickly; verify current details against primary sources and company announcements. For decisions about your own situation, talk to a licensed professional.