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$#OpenAIAnthropicRace The competition between OpenAI and Anthropic has already begun to directly impact the valuation system of the entire AI asset market. OpenAI's current annualized revenue has reached approximately $40 billion, nearly doubling by the end of 2025, with growth mainly driven by ChatGPT subscriptions, enterprise clients, and AI programming services like Codex. The company is also adjusting its commercial team in preparation for a potential IPO. OpenAI has previously secretly submitted a US IPO application, with market discussions estimating a potential valuation as high as about $1 trillion. Anthropic's growth rate is even more aggressive. The company's revenue run rate by the end of 2025 is about $9 billion, which has already exceeded $47 billion by May this year; the latest disclosed Q2 revenue is expected to be at least $10.9 billion, more than double that of Q1, while also expecting to achieve approximately $559 million in quarterly operating profit. Anthropic raised $65 billion in May this year, with a post-money valuation reaching $965 billion. Now the capital market is beginning to discuss the possibility of Anthropic's valuation exceeding $2 trillion after going public, as the company's internal revenue target for 2028 has already reached $190 billion to $200 billion. Moving forward, the core variables in AI trading will increasingly focus on revenue growth rate, inference costs, and profit margins. Their valuations after listing are very likely to continue to influence Nvidia, data centers, power, and storage chains.