According to a source on Wednesday, OpenAI is preparing to confidentially file for a U.S. initial public offering (IPO) in the coming weeks. The developer of ChatGPT, last valued at $852 billion, is moving forward with its plans just two days after successfully defending against a critical legal challenge from Elon Musk. This timing could potentially overshadow the anticipated IPO filing from Musk's SpaceX, expected later the same day.
The source indicated that OpenAI is targeting a public listing as early as September. The company is currently collaborating with Goldman Sachs and Morgan Stanley to draft its IPO prospectus and plans to submit it to regulators shortly. Earlier this year, OpenAI secured $12.2 billion in funding, which is likely the largest financing round in Silicon Valley history.
However, in recent months, facing competitive challenges from rivals like Google and Anthropic, the company has adjusted its product roadmap twice. Some industry observers anticipate that Anthropic's revenue growth may surpass OpenAI's in the coming months. Reuters exclusively reported last year that OpenAI was considering filing with securities regulators as early as the second half of 2026.
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