Grinberg: Anthropic is a safer IPO investment than OpenAI due to volatility
Matan Grinberg · OpenAI vs Anthropic vs Open-Source | Token Maxing, AI Hangovers & The Coming ROI Reckoning · 20VC with Harry Stebbings · Jun 13, 2026 · at 1:20:46
Matan Grinberg, founder and CEO of Factory, compares Anthropic and OpenAI as potential IPO investments, slanting toward Anthropic because of past organizational turbulence at OpenAI.
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“In my mind, the answer here is, I think they're approximately equivalent. Like, to me, it doesn't really matter. The biggest reason that affects like the EV is like volatility of the company. That's the only, like, cause I think from the business perspective, they're both very well suited and like, kind of well positioned there. . Probably. Just, past is an indicator of the future, and like, there's just been more like random, chaotic, turbulent events at OpenAI. But like from a business perspective, to me, that's like, they're both great choices.”
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