San Francisco home sellers are seeking pre-IPO OpenAI or Anthropic shares as payment, highlighting intense demand for AI equity as both companies are linked to blockbuster public-market valuations.
Anthropic, OpenAI and SpaceX remain among the most closely watched private companies moving toward potential initial public offerings, with fresh signs of investor appetite now spilling into San Francisco real estate transactions. Some home sellers in the city are asking buyers to pay with pre-IPO shares of OpenAI or Anthropic, underscoring strong demand for equity in the two artificial intelligence firms ahead of any public listings. The new development adds to existing scrutiny around the timing and valuation of the AI companies. Anthropic has already confidentially filed a draft S-1 with the SEC, with Freshfields advising on the process. OpenAI has also recently filed a confidential S-1 with the SEC, while earlier reporting had said the company was considering delaying an IPO until 2027 because of market uncertainty. The new report says market pricing suggests OpenAI could command a valuation above $1 trillion at IPO, while Anthropic is targeting an October 2026 Nasdaq debut with a projected valuation of $965 billion. SpaceX is still described as pursuing a June 12, 2026 listing expected to raise more than $75 billion. Taken together, the activity around these companies points to unusually strong market enthusiasm for marquee private technology names, especially AI firms, and leaves investors watching for formal IPO timing, valuation updates and broader market conditions that could affect pricing.