OpenAI files confidential IPO paperwork as AI race heats up
OpenAI confirmed on Monday that it has filed paperwork with the US Securities and Exchange Commission (SEC) to go public, becoming the latest artificial intelligence company to move toward an initial public offering (IPO), News.Az reports, citing Anadolu.
“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,” the company said on the US social media platform X.
“But it’s a complicated set of tradeoffs and this gives us the option to go public sooner if that ends up being best,” it added.
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No additional details were immediately disclosed.
Rival AI company Anthropic said on June 1 that it had also submitted confidential paperwork to go public.
Sam Altman, the CEO of OpenAI (the owner of ChatGPT), said after Anthropic’s IPO announcement that competition in the AI sector is not centered on reaching Wall Street.
“I think there is a race to deliver the best technology, build the best business, but you know, going public is a financing event, and I don't think that's one that we're focused on the timing of,” he said.
By Nijat Babayev
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