Artificial intelligence startup company OpenAI has confidentially filed to hold an initial public offering (IPO) in coming months.
OpenAI filed the needed paperwork with the U.S. Securities and Exchange Commission (SEC), joining a parade of large IPOs that’s expected to include Anthropic and Elon Musk’s SpaceX.
The A.I. startup is valued at $852 billion U.S. and has been hinting at plans to go public as soon as the fourth quarter of this year.
A confidential IPO filing allows a company to submit its financials to regulators for review before they’re made public to prospective investors.
OpenAI plans to allow its employees to sell shares at the latest valuation, alleviating some near-term pressure for liquidity.
The company is working with Wall Street investment banks Goldman Sachs (GS) and Morgan Stanley (MS) on its planned market debut.
OpenAI kicked off the current A.I. boom with the release of its ChatGPT chatbot in late 2022 and has since become on of the biggest startup companies in the world.
ChatGPT today boasts more than 900 million active users.
SpaceX is expected to go public on June 12. At a valuation of $1.77 trillion U.S., its expected to be the biggest IPO in U.S. history.
A week ago, A.I. startup Anthropic announced its confidential IPO filing. The rival to OpenAI was last valued at $965 billion U.S.
The big IPOs are expected to deliver a windfall to investment banks and make 2026 one of the best years ever for deals on Wall Street.
Goldman Sachs’ stock is currently trading at $1,045 U.S. per share, having gained 70% in the last 12 months.
Tech Insider
