OpenAI, the creator of ChatGPT, has confidentially filed for an initial public offering in the United States, becoming the third major AI company this year to plan a Wall Street debut.
The company announced Monday it filed confidential paperwork with the SEC but has not set a timeline. "We expect it to leak so we're just announcing it," OpenAI wrote, adding that it may wait due to advantages of staying private.
Rival Anthropic announced its own IPO pursuit on June 1, while Elon Musk's SpaceX, which owns xAI, is expected to debut Friday. The past year has seen blockbuster tech IPOs, including crypto firms Circle, eToro, and Bullish.
Co-founder Sam Altman and chief scientist Jakub Pachocki emphasized building AI that can improve itself, noting the economy is "beginning to reshape around AI." They warned against centralized control, advocating broad access. Meanwhile, AI-driven efficiencies have led to nearly 117,000 tech layoffs this year, including over 5,000 in crypto, led by Block Inc.'s 4,000 cuts in February.