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OpenAI Files Confidential IPO Paperwork With SEC

technologyJun 10, 2026·350 words·3 min read

OpenAI announced on Monday that it had confidentially filed initial public offering (IPO) paperwork with the United States Securities and Exchange Commission (SEC), a first regulatory step that gives the maker of ChatGPT the option to begin selling shares to ordinary investors. In a brief statement, the company said it had not committed to a precise timeline, noting that going public involved "a complicated set of tradeoffs," but several reports suggested a listing could happen as early as the fall.

An IPO turns a private company into a public one. It lets the firm raise large amounts of money by selling shares on a stock market. AI (artificial intelligence) firms need this money to pay for "compute" — the powerful computers used to train and run their models. OpenAI's last private value reached 852 billion US dollars. Rival Anthropic recently passed it at 965 billion dollars. Anthropic filed last week. Elon Musk's SpaceX, which owns the Grok chatbot, may list this same week.

The first firm to reach the public market will likely get better access to investor money for AI. The Financial Times said OpenAI is rebuilding ChatGPT into a "superapp" that includes coding tools. Earlier reports said OpenAI missed its money and user targets, raising doubts about whether its heavy spending can become profit. The three big listings will be a major test for the AI sector.

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