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San Francisco: OpenAI confidentially filed for a US initial public offering recently, the ChatGPT maker said on Monday, joining rival Anthropic in a push towards a stock market listing as it looks to tap into insatiable investor demand for AI shares.
OpenAI did not disclose the size or terms of the offering, and said a timeline has not yet been determined. “It may be a while because there are things we want to do that are likely easier as a private company,” it said in a statement. It has been reported that the AI giant is targeting a valuation of up to $1 trillion in a stock market debut that could come as early as September.
At that valuation, OpenAI would set the stage for a trio of trillion-dollar-valuation companies debuting rapidly, which together are seen as the most consequential test of investor appetite for high-growth technology stocks in the last 10 years.
Elon Musk’s SpaceX was the first off the block, filing for an IPO that would rank as the largest in history if completed, with the company pursuing a $75 billion offering at a $1.75 trillion valuation. Anthropic, the company behind the viral coding assistant Claude Code, said on June 1 it had confidentially filed for a US initial public offering, weeks after raising $65 billion in a funding round that valued it at $965 billion.