OpenAI, the company behind ChatGPT, has confidentially filed for a U.S. initial public offering, the company announced on Monday, according to Reuters. The move puts OpenAI alongside its chief rival Anthropic, which has also been pushing toward the public markets.
A confidential filing — a standard option available to qualifying companies — lets OpenAI submit its IPO paperwork to regulators without immediate public disclosure of its financials. The company can choose whether and when to proceed with a full public listing after that review.
The dual march toward Wall Street by the two leading AI labs has drawn attention from investors eager to gain exposure to the artificial intelligence boom. Investor Kevin O'Leary, speaking to Yahoo Finance, argued that trying to pick between OpenAI, Anthropic, and SpaceX as IPO opportunities is a mistake, advising followers to "buy them all."
Not everything has been smooth sailing for OpenAI's financial ecosystem. A separate report from simplywall.st examined SoftBank Group's stock in light of what it described as an OpenAI loan setback, raising questions about valuation and funding risks tied to the AI giant.
Brave New Coin described OpenAI's filing as "historic," reflecting how significant it would be for a company that began as a nonprofit research lab and grew into one of the most valuable private companies in the world to enter public markets.
If OpenAI follows through, its IPO would represent one of the most closely watched market debuts in years — a signal of how seriously Wall Street is betting that the AI era is just getting started.