OpenAI announces it submitted a confidential S-1 to the SEC, the first official step towards IPO.
The AI IPO stampede is officially on.
OpenAI Inc. on Monday announced it has submitted a confidential draft registration statement on Form S-1 to the SEC — a disclosure the company made in unusually candid fashion.
"We recently submitted a confidential S-1.
We expect it to leak so we're just announcing it," OpenAI said in a statement on its website.
"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.
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OpenAI said it has not decided exactly when the IPO would take place.
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