OpenAI and Anthropic IPOs face growing uncertainty as AI development slowdown reshapes investor expectations

OpenAI has pushed its IPO to 2027 or later, and Anthropic’s planned Nasdaq listing is clouded by a broader industry reckoning over the pace of AI development. SoftBank shareholders got the memo first. The Japanese conglomerate’s stock dropped 13% on September 14, 2026, after the implications of the slowdown narrative started to crystallize. The safety pivot On September 12, 2026, Anthropic CEO Dario Amodei published an essay calling for a coordinated pacing of AI development rather than a full stop. His argument centered on third-party evaluators and common safety standards, essentially proposing that the industry collectively agree to pump the brakes without anyone having to be the first to unilaterally slow down. Sam Altman backed the approach almost immediately. In a Fortune interview the same day, the OpenAI CEO confirmed that a 2026 IPO is off the table, framing the delay as a matter of safety priorities. The timing was notable: OpenAI had confidentially filed its S-1 with the SEC just three months earlier, on June 8, 2026. Anthropic had filed its own paperwork on June 1. Anthropic had been targeting an October or November 2026 Nasdaq listing with a valuation of up to $2 trill...