OpenAI announced it has confidentially submitted a Form S-1 with the US Securities and Exchange Commission on Monday. The confidential filing means certain details — including executive compensation, business risks, and financial specifics — are not yet public.
OpenAI had initially planned to spend $1.4 trillion on compute infrastructure, but adjusted that figure in February to $600 billion on compute by 2030. The company has faced reports that certain executives, including CFO Sarah Friar, raised concerns about missed revenue targets, user growth numbers, and the ability to pay for compute spending commitments.
Anthropic, OpenAI's rival, holds a post-money valuation of $965 billion from its most recent fundraise, surpassing OpenAI's latest post-money valuation of $852 billion. Anthropic filed its own Form S-1 on June 1st.
Summaries like this, in your inbox every morning.
Pick your industry and the AI tools you use, and get news related to your work every day.
Free · 30 seconds with Google · unsubscribe anytimeWhat is AIToday? →
Ask AI anything about this article. The AI reads this article, earlier AIToday articles, and Wikipedia, and cites its sources. Q&As are published on this page for other readers too.
Chunghwa Telecom president Rong-shy Lin said the shift from conversational AI to autonomous AI agents is resha…
CoreWeave fell 5% in premarket trading Friday and was on track to finish the week down 15%, after rebounding f…
Apple and Meta said they would jointly release a new open-weight AI model designed to run on high-end Macs, ai…
Investors put $38.5 billion into Asian startups in Q3, per Crunchbase data
A longtime Anthropic investor told Fortune he expects shares priced around $1.8 trillion, below the company's…
In Q2, billionaires or their funds sold six 'Magnificent Seven' AI stocks
