Summary
NYU professor and investor Scott Galloway delivers a pointed analysis of the coming AI IPO wave in this Office Hours episode of The Prof G Pod, focusing primarily on OpenAI and Anthropic as they approach public markets. Galloway argues that OpenAI’s reported delay until 2027 is less about market volatility and more about the need to clean up what he characterizes as undisciplined capital spending — predicting a significant internal cost-reduction effort before the company is IPO-ready. He contrasts this with Anthropic, which The Wall Street Journal reports could go public as early as fall 2026 at a valuation of approximately $965 billion, versus OpenAI’s confidential filing at $850 billion.
Using SpaceX’s IPO arc as a reference point — shares launched at $135, peaked near $230, then shed nearly $750 billion in market cap in under two weeks before stabilizing above the IPO price — Galloway examines what large AI listings mean for existing tech portfolios. He cites Pitchbook analyst Harrison Wolf’s prediction that pension funds and sovereign wealth funds will sell Nvidia, Microsoft, Google, and Meta positions to fund IPO allocations, while Galloway himself believes crypto holders are the more likely rotation source.
The episode also covers competitive dynamics between OpenAI and Anthropic, with Galloway asserting that momentum is visibly shifting toward Anthropic. He closes with audience questions about approaching CEOs in public and a personal discussion of panic attacks, both unrelated to AI. The core market analysis segment is substantive and data-anchored, offering a useful investor-perspective lens on AI ecosystem valuation dynamics heading into late 2026.
📺 Source: The Prof G Pod – Scott Galloway · Published July 13, 2026
🏷️ Format: Podcast
