Companies that plan to go public don't push back their IPO dates if things are going well. It's a universal sign that the finances aren't in order when a company pushes back its IPO multiple times.

OpenAI and Anthropic are barely profitable on a "unit" basis when ignoring the costs of marketing and other COSS expenses. They're definitely not profitable on an EBITDA or GAAP basis or they'd already have IPO'd.