Silicon Valley giant OpenAI is set to make a debut on Wall Street, as the firm confidentially filed paperwork for an initial public offering (IPO). The firm confidentially filed paperwork for an initial public offering (IPO) with the US Securities and Exchange Commission (SEC).

OpenAI has filed its confidential S-1, the first official step on its path to a blockbuster IPO. The ChatGPT-maker announced the filing on Monday.

The Sam Altman-led firm submitted paperwork for an initial public offering with the US Securities and Exchange Commission, the company said. | World News

ChatGPT maker is expected to be valued at more than $850bn

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