OpenAI Submits Confidential IPO Paperwork
The company disclosed the filing directly on X, getting ahead of an anticipated leak. "We recently submitted a confidential S-1. We expect it to leak so we're just announcing it. We have not decided on timing yet; it may be a while because there are things we want to do that are likely easier as a private company," the company said on the US social media platform X.
The company acknowledged the complexity of the decision without committing to a firm timeline. "But it's a complicated set of tradeoffs and this gives us the option to go public sooner if that ends up being best," it added.
No further details were immediately made available.
The announcement follows a similar move by rival AI company Anthropic, which disclosed on June 1 that it too had filed confidential IPO paperwork. OpenAI chief executive Sam Altman had responded to that news by playing down the significance of the race to public markets.
"I think there is a race to deliver the best technology, build the best business, but you know, going public is a financing event, and I don't think that's one that we're focused on the timing of," he said.
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