OpenAI and Anthropic IPOs could reveal AI economics, investor says

VistaShares portfolio manager David Fetherstonhaugh says investors increasingly want proof that massive AI spending generates returns. He argues that private companies like OpenAI and Anthropic keep a key part of the AI economy opaque, and their eventual IPOs could bring greater transparency.

• Investors demand proof that massive AI spending pays off
• OpenAI and Anthropic secrecy hides a key part of AI economics
• Their eventual IPOs could bring more transparency to the sector