OpenAI Confidentially Files for U.S. IPO
OpenAI has officially joined Wall Street’s initial public offering (IPO) along with SpaceX and Anthropic, announcing that it has confidentially submitted a draft S-1 filing to regulators.
That’s the paperwork companies file before going public, though investors won’t get to see the details just yet. The ChatGPT creator acknowledged the filing in a blog post, saying it expects news of the submission to leak anyway.
“We recently submitted a confidential S-1. We expect it to leak so we’re just announcing it. 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.
“But it’s a complicated set of tradeoffs and this gives us the option to go public sooner if that ends up being best”, OpenAI said in its update.
OpenAI crossed $25 billion in annualised revenue in February, up from $21.4 billion at the end of 2025. The company reached $1 billion in revenue within a year of ChatGPT’s 2022 launch and now generates $2 billion per month.
The offer comes amid growing demand for AI stocks, even as investors express concerns about AI stock valuations.
The action followed a move to go public along with its market rivals. Earlier in the week, AI giant Anthropic submitted its draft S-1 registration with the Securities and Exchange Commission, setting the stage for an initial public offering later this year.
Anthropic made headlines when it reached a near-trillion-dollar valuation, surpassing OpenAI as the largest privately held AI company.
Anthropic raised $65 billion from Altimeter Capital, Greenoaks, Dragoneer, and Sequoia Capital. This came after it reached a peak influx of a million new users a day, the company said in March.
Once the SEC completes a review of Anthropic’s confidential filing, the company will be able to go public. #OpenAI Officially Files for IPO Amidst Growing Revenue Wall Street Surges to Record Highs as AI, Tech Stocks Rally
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