Fable 5

OpenAI and Anthropic are both racing toward IPOs near $1 trillion. In the past two weeks, the U.S. government pulled Anthropic's most powerful models offline, cleared one for roughly 100 vetted organizations, told OpenAI to phase its GPT-5.6 launch through a trusted-partner list, and 42 state attorneys general subpoenaed OpenAI. For enterprise leaders who build production systems on these models, the rules of access are changing in real time.