Topline
OpenAI has confidentially filed an S-1 form for an initial public offering, the company said in a brief statement on Monday, about one week after artificial intelligence rival Anthropic did the same as several of the largest companies in the industry prepare to go public.
OpenAI said it has not decided exactly when the IPO would take place.
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Key Facts
In a brief statement released on Monday evening, OpenAI said it expected news of the confidential filing to leak, prompting it to announce the filing early.
The company said it hasn’t decided when the highly anticipated IPO would take place, warning that “it may be a while because there are things we want to do that are likely easier as a private company.”
The company behind ChatGPT has reportedly been planning to go public for months, and the Wall Street Journal reported in May the company was being advised by Goldman Sachs and Morgan Stanley for an imminent filing.
The announcement comes only about one week after Anthropic confidentially filed paperwork to go public, and several weeks after similar moves from SpaceX, Elon Musk’s rocket and satellite company that also merged with his AI company xAI in February.
Read OpenAI’s Statement in Full
“We recently submitted a confidential S-1. We expect it to leak so we’re just announcing it. 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. But it’s a complicated set of tradeoffs and this gives us the option to go public sooner if that ends up being best.”