OpenAI files confidential paperwork for IPO

(Sharecast News) - ChatGPT developer OpenAI announced on Monday that it has filed confidential paperwork for an initial public offering, paving the way for one of the most closely watched market debuts in years. OpenAI said it has not yet decided on timing, noting that the process may take time because "there are things we want to do that are likely easier as a private company". OpenAI was valued at $852bn in March.

The move comes days after rival Anthropic also filed confidentially for an IPO, having last been valued at $965bn.

OpenAI's filing follows a legal win for chief executive Sam Altman and president Greg Brockman, after a California jury ruled that Elon Musk's lawsuit against the pair was filed outside the statute of limitations. Musk has said he will appeal, calling the verdict a "calendar technicality".

The IPO could deliver a significant windfall for Microsoft, one of OpenAI's largest backers, after companies amended their partnership last October, allowing OpenAI to transition fully to a for‑profit structure. Under that deal, Microsoft received 27% of OpenAI Group PBC, valued at $135bn, while the non-profit arm received a $130bn stake.









Reporting by Iain Gilbert at Sharecast.com