OpenAI said it has confidentially submitted draft registration documents for an initial public offering, taking a formal step toward a potential stock market listing, according to CNN.
The ChatGPT developer said it had submitted draft registration documents to regulators but has not yet determined the timing of the offering, the number of shares to be sold, or a potential valuation.
“It may be a while because there are things we want to do that are likely easier as a private company,” OpenAI said in a statement. The filing nonetheless “gives us the option to go public sooner if that ends up being best,” the company added.
OpenAI was valued at about $852 billion following a $122 billion funding round in March, making it among the world’s most valuable private companies. The filing comes as investors closely monitor whether leading AI companies can sustain the growth rates that have driven their valuations higher.
The IPO filing comes amid growing competition in the AI industry. Rival AI company Anthropic recently confidentially filed for its own IPO, while major technology companies such as Google and Meta continue to invest heavily in competing AI models and infrastructure.
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