The year of big IPOs just keeps getting bigger.
OpenAI, the company behind ChatGPT, announced that it has taken the first steps toward an initial public offering, following in the footsteps of fellow AI company Anthropic, which took a similar step last week, and SpaceX, which is going public on June 12
OpenAI’s most recent valuation from private investors was $852 billion, following a March fundraising round that brought in $122 billion. It’s likely that OpenAI will achieve a $1 trillion valuation when it goes public, joining a select few companies with that lofty market cap. Here’s what we know about the OpenAI IPO, and what investors can expect next.
Details are scarce for now On June 8, OpenAI said it recently submitted a confidential Form S-1 to the U.S. Securities and Exchange Commission (SEC) for a proposed IPO of its common stock. The filing is the first step toward taking the company public, but because it’s confidential, OpenAI will be allowed to keep financial results and other sensitive information private until the SEC completes its review of the submission.