The AI leader’s SEC filing leaves timing and valuation open amid strategic considerations for remaining private longer.
OpenAI has submitted a confidential initial public offering filing with the SEC, though no share count, price range, or listing date has been set. The company stated deliberations are ongoing, citing advantages to staying private for now but retaining the option to go public sooner if needed.
The move follows Anthropic’s recent confidential S-1 filing, with that rival valued at $965bn after a $65bn funding round. OpenAI’s potential IPO has been linked to a $1tn valuation target, though no timeline has been confirmed. Both firms could rank among the largest US tech listings in years.
Investor interest in AI companies remains strong, with OpenAI raising $110bn at an $840bn valuation earlier in 2026. The filing comes as the sector continues to attract significant capital amid rapid growth.