ChatGPT Parent OpenAI Files Confidentially for IPO

ChatGPT parent OpenAI disclosed Monday afternoon that it's submitted a confidential S-1 filing with the U.S. Securities and Exchange Commission to go public.

"We expect [the news] to leak so we're just announcing it," OpenAI said in a statement released after Monday's market close.

"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. "But it's a complicated set of tradeoffs and this gives us the option to go public sooner if that ends up being best."

OpenAI provided no further details such as how many shares it plans to offer, what price-per-share range it expects to sell stock at or how much money the firm thinks the initial public offering will raise.

The company's go-public announcement comes just one week after rival artificial-intelligence firm Anthropic disclosed a similar confidential S-1 filing.

The latest news also comes just days before billionaire Elon Musk's $SpaceX (SPCX.US)$ – which owns Musk's AI start-up xAI – plans to stage an IPO.

SpaceX expects to go public on Friday at what markets expect will be a $1.75 trillion valuation, instantly making it one of the world's most valuable companies.

Some public-market investors are keen to invest in large AI companies that are currently privately held because many on Wall Street believe artificial intelligence will upend the global economy, much as the Internet did beginning in the 1990s.

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