3 Stocks Already Winning the OpenAI vs. Anthropic Race

OpenAI and Anthropic reported more than $80 billion in combined losses last year. Meanwhile, three companies supplying power and cooling to their AI data centers are seeing a business boom.

Unlike the AI giants, all three already trade on the New York Stock Exchange (NYSE).

Three NYSE Stocks Are Getting Paid by the AI Boom

GE Vernova (GEV) supplies the turbines and equipment that power AI data centers. Its data center orders exceeded $5 billion in the first half of 2026, more than double its entire 2025 total.

Quanta Services (PWR) builds the power lines connecting those facilities to the grid. Its total backlog reached a record $53.4 billion, including work beyond AI.

Vertiv (VRT) sells the systems that prevent servers from overheating. Its quarterly sales jumped 24%, prompting higher annual forecasts.

Several Wall Street analysts argue that these suppliers benefit regardless of which AI developer wins more customers.

But What Happens If the AI Bubble Bursts?

OpenAI recorded a $38.5 billion loss in 2025. Anthropic reported nearly $42 billion in losses, though $34 billion came from a non-cash accounting charge.

Anthropic has also committed $518 billion to future computing and infrastructure spending.

Michael Burry, famous for predicting the 2008 financial crisis, wants the market to crash before the AI giants go public.

“For the benefit of humanity, the markets should tank hard and prevent the OpenAI and Anthropic IPOs.”

Former BitMEX CEO Arthur Hayes shares those concerns.

“There always is a crash, and there always is a bailout.”

Thursday offered a warning. OpenAI’s annualized revenue is reportedly $20 billion below an earlier estimate, largely because of differences in counting cloud-partner sales.

The Nasdaq 100 fell more than 300 points within half an hour amid wider market pressure.

BREAKING: Oracle stock, $ORCL, falls over -5% after OpenAI tells investors that its annualized revenue is $20 billion less than expected. pic.twitter.com/9VaYcmOaap

— The Kobeissi Letter (@KobeissiLetter) October 8, 2026

For GE Vernova, Quanta and Vertiv, the orders are real. The question is how long AI companies can afford to keep building at this pace.