OpenAI begins to move toward IPO with confidential filings

OpenAI has confirmed that it has filed for an initial public offering (IPO) just a week after Anthropic.

a short blog post Today, OpenAI said it filed a confidential Form S-1, the first step toward an IPO on the stock exchange. The announcement, as OpenAI puts it, “comes because it’s been waiting to leak, so we’re just announcing it.”

The timing of the IPO is undecided, but OpenAI says “it could be a while because there are things we want to do as a private company that are probably easier.”

We recently filed a confidential S-1. We’re waiting for it to leak, so we’re just announcing it. We haven’t decided on the timing yet; it might be a while because there are things we want to do as a private company that are easier. But it’s a complex set of trade-offs that allow us to go public sooner if it’s for the best.

TechCrunch It notes that OpenAI recently At $852 billion, slightly less than rival Anthropic at $965 billion also filed the same Form S-1.

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Apparently, OpenAI is still not profitable and is not expected to be in the near future, but the public stock offering will serve as a way for OpenAI, and Anthropic for that matter, to raise additional capital.