OpenAI Files for IPO as AI Giants Race to Go Public

OpenAI, the company behind ChatGPT, has filed plans to offer its stock to the public in what analysts expect to be a massive IPO. The company said it has not decided on timing yet, though the filing gives OpenAI the option to move forward sooner if leadership decides that's the right call.

The announcement follows a similar move by OpenAI's rival Anthropic, which filed for its own IPO on June 1 with a current valuation of around $965 billion.

The push to go public comes as AI companies face growing costs for the computing power and product development needed to stay competitive. OpenAI reported earlier this year that it has over 900 million weekly active users, more than 50 million paid subscribers, and monthly revenue of $2 billion.

Analysts say the back-to-back filings signal that artificial intelligence is quickly becoming one of the biggest investment themes of the next several years. These high-profile offerings are expected to bring new energy to the U.S. stock market, though experts warn they could also pull a large amount of investment capital away from smaller companies looking to go public at the same time, putting added pressure on those projects.

OpenAI noted that the filing does not constitute an offer to sell stock, and that any future securities offering would be made only through a formal registration statement filed with the SEC.