OpenAI and Anthropic have taken formal steps toward potential public listings, as both companies continue expanding their AI tools into the healthcare space. OpenAI stated it recently submitted a confidential S-1 to the U.S. Securities and Exchange Commission (SEC). The company said it has not decided on timing and that it “may be a while” before further action, but said the move gives OpenAI the option to go public sooner if that becomes the best path.
Just a week prior, Anthropic announced it confidentially submitted a draft registration statement on Form S-1 to the SEC for a proposed initial public offering of common stock. Anthropic said the proposed IPO would depend on SEC review, market conditions and other factors and that the number of shares and price range had not yet been determined.
Reuters reported today that OpenAI CEO Sam Altman told staff he expected the company to go public within the next year and that OpenAI was targeting a valuation of up to $1 trillion in a potential stock market debut.
The potential IPOs could eventually provide a clearer look at how OpenAI and Anthropic are monetizing AI tools in regulated markets, including hospitals, health systems, payers, clinicians and pharmaceutical companies.
OpenAI launched ChatGPT for Healthcare in January, describing it as a set of products designed to help healthcare organizations scale AI while supporting HIPAA compliance requirements. The company said ChatGPT for Healthcare was rolling out to institutions including AdventHealth, Baylor Scott & White Health, Boston Children’s Hospital, Cedars-Sinai Medical Center, HCA Healthcare, Memorial Sloan Kettering Cancer Center, Stanford Medicine Children’s Health and UCSF.
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A few months later, OpenAI launched ChatGPT for Clinicians, which the company said can help providers obtain cited answers from medical sources and support research and documentation. OpenAI said the platform is free for verified U.S. clinicians and includes citations to journals with authors, publication dates and titles for verification.
Anthropic announced Claude for Healthcare and Claude for Life Sciences, saying the program could support prior authorization checks, claims appeals, patient care coordination, regulatory submissions and life sciences research workflows. The HIPAA-ready AI platform was designed for providers, payers and patients and included connectors to sources such as the Centers for Medicare & Medicaid Coverage Database.
OpenAI closed a funding round with $122 billion in committed capital at an $852 billion post-money valuation, while Anthropic raised $65 billion in Series H funding at a $965 billion post-money valuation. Anthropic’s financing made it the world’s highest-valued private AI company.
The potential public listings also come amid renewed IPO activity in the broader digital health and health technology market. In May, health-tracking ring maker Oura announced that it confidentially submitted a draft registration statement on Form S-1 with the SEC for a proposed IPO.
Several digital health and health technology companies also entered the public markets last year. Hinge Health filed for an IPO in March of last year, and in May 2025, the digital musculoskeletal care company went public, raising $437.3 million. Omada Health, which offers virtual care for chronic conditions, filed to go public in May 2025, and debuted on Nasdaq in June last year at $19 per share.
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Both OpenAI and Anthropic have also built healthcare and life sciences partnerships. OpenAI partnered with Novo Nordisk for AI drug discovery, including analyzing complex datasets, identifying drug candidates, and reducing the time from research to medication development.
Anthropic signed an enterprise AI deal with Bristol Myers Squibb in May. The deployment would focus on implementing Claude Code within engineering and data science teams, embedding agents into workflows and connecting Claude to BMS’s institutional knowledge. BMS research teams will also have access to Claude to help identify and optimize drug targets across oncology, neuroscience, hematology and immunology.
The eventual public filings could give healthcare customers more visibility into the financial, operational and regulatory risks behind tools that are increasingly being used in clinical, administrative and research settings.
HIMSS is hosting the one-day AI Executive Leadership Summit in Boston June 24, 2026, followed by its AI in Healthcare Forum June 25–26. The event will feature discussions on the latest developments in AI and healthcare, including the use of sustainable luxury and digital health technologies.
