Tools for Humanity, Sam Altman's identify verification company, is reportedly struggling to generate revenue and will downsize its staff.

OpenAI said it has not decided exactly when the IPO would take place.

Tools for Humanity has struggled to show how its iris-scanning "Orb" can generate revenue. Now it's laying off employees.

OpenAI files confidential IPO paperwork with SEC, opening door to potential listing as AI race heats up with rivals like Anthropic and SpaceX.