OpenAI recently announced that it had confidentially filed the paperwork for a U.S. initial public offering (IPO), joining rival AI developer Anthropic in moving toward a stock market debut as both companies seek to capitalize on strong investor appetite for artificial intelligence stocks.
The ChatGPT creator did not reveal the size or pricing of the proposed offering and said no timetable had been set.
“We have not decided on timing yet; it may be a while because there are things we want to do that are likely easier as a private company,” said the company.
“But it’s a complicated set of tradeoffs and this gives us the option to go public sooner if that ends up being best,” it added.
Earlier reports revealed that OpenAI is aiming for a valuation of as much as $1 trillion in its planned stock market debut, which could take place as early as September.
If achieved, the valuation would position OpenAI among a group of companies reaching the public markets with trillion-dollar valuations in quick succession, marking what many investors view as one of the most significant tests of demand for high-growth technology stocks in the past decade.
Elon Musk’s SpaceX was the first of the AI and technology giants to move toward the public markets, filing for an IPO that could become the largest in history if completed. The company is reportedly targeting a $75 billion offering that would value it at approximately $1.75 trillion.
Meanwhile, Anthropic, the developer of the widely used coding assistant Claude Code, announced on June 1 that it had confidentially submitted documents for a U.S. IPO. The filing came just weeks after the company secured $65 billion in fresh funding, giving it a valuation of $965 billion.
Read: SpaceX IPO to value company at historic $1.77 trillion
Earlier this year, OpenAI announced plans to raise $110 billion in fresh capital at an $840 billion valuation, attracting support from major investors including SoftBank, Amazon and Nvidia.
At the time, the company also revealed the scale of its user base, reporting that ChatGPT had surpassed 900 million weekly active users and attracted more than 50 million paying consumer subscribers.
