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Just days after Anthropic confidentially filed to go public, OpenAI has reportedly done the same, setting the stage for what could become one of the biggest IPOs Wall Street has ever seen.
What’s going on: the ChatGPT maker, currently valued at more than $850 billion, is reportedly targeting a stock market debut as early as the fourth quarter of this year.
The company has been working with investment banking giants Goldman Sachs and Morgan Stanley on the listing process.
OpenAI now serves more than 900 million weekly active users, making it one of the fastest-growing technology platforms in history.
But going public is not really easy. Competition in AI is getting fiercer by the day, with rivals such as Anthropic, Google and Elon Musk's xAI all fighting for a bigger slice of the market.
Then there's the money question.
OpenAI has raised more than $180 billion from investors, but it continues to spend heavily on computing power, data centres and the infrastructure needed to train increasingly powerful AI models.
That means investors won't just be looking at user growth and flashy AI demos. They'll want answers on when, and how, OpenAI plans to turn its enormous popularity into sustainable profits.
