How to invest in OpenAI, Anthropic, Stripe and Databricks before an IPO

By Unicorn Private Research. Published and last updated 2026-09-20.

Key takeaways

As of September 2026 none of OpenAI, Anthropic, Stripe or Databricks has confirmed an IPO date.
Reported valuations: Anthropic 965 billion dollars (May 2026), Databricks 190 billion (August 2026), Stripe 159 billion (February 2026); OpenAI figures differ by source.
Access comes through secondary purchases, SPVs, funds or tender offers, and is restricted to qualified investors.
Company approval, ROFR and information limits apply to every route.

Investors asking how to buy OpenAI, Anthropic, Stripe or Databricks before an IPO are asking about the private market, where these companies remain. None of them can be bought on a public exchange, and each controls who may hold its shares.

Latest reported valuations

Anthropic: about 965 billion dollars after its funding round reported in May 2026, which put it ahead of OpenAI in reported valuation.
OpenAI: reported at about 852 billion dollars in March 2026 by one widely used listing, while Forbes on 16 September 2026 cited a previous valuation of 730 billion dollars and unconfirmed talks at up to 1.5 trillion dollars. Reported figures for OpenAI therefore differ by source.
Databricks: 190 billion dollars after a 5 billion dollar round reported by CNBC on 13 August 2026.
Stripe: about 159 billion dollars as of February 2026.

These are private valuations from funding rounds or reports. They are not market prices.

Realistic routes to exposure

Direct secondary purchase from employees or early investors, subject to company approval and any right of first refusal.
SPVs that hold shares of a single company for a group of investors.
Funds or feeder vehicles that hold several private companies.
Company-organized tender offers, which are usually limited to existing holders and approved buyers.
Specialized private equity firms, such as Unicorn Private, that acquire stakes in top late-stage companies and admit qualified investors as partners in their own capital.

What to check before buying

Whether the seller actually holds the shares and may transfer them.
Whether the company has approved the transfer and waived its right of first refusal.
Which share class is being sold and which liquidation preferences sit above it.
What layers of fees apply if the exposure is held through an SPV or a fund.
Whether the seller or platform is regulated and whether you qualify as an investor for the offering.

IPO timing

On this point, reporting in September 2026 indicates that OpenAI's chief executive said the company will not go public in 2026. No IPO dates have been confirmed by the other companies in this guide. Investors should assume that holding periods may be long and uncertain.