OpenAI files confidential IPO paperwork, becoming the third major AI company to pursue a public listing this year

OpenAI announced on Monday that it has filed confidential S-1 paperwork for an initial public offering on a US stock exchange, following Anthropic's IPO filing a week prior. The company did not specify timing or a fundraising target, stating in a blog post that it has not decided whether to go public immediately because some goals are 'likely easier as a private company.'

The move follows OpenAI's private fundraising round in March, in which the company raised $122 billion. An IPO would provide another fundraising opportunity as the company seeks capital for data centers and scientist recruitment alongside other major tech firms pursuing frontier AI (the most powerful AI models).

Going public would bring workers closer to financial gains and increase business transparency, which the company says could boost employee morale and customer confidence as it works to maintain its position as a leader in frontier AI.