OpenAI has confidentially filed for a US initial public offering (IPO), joining the ranks of AI companies seeking a Wall Street debut.
The move comes as investors seek exposure to the booming sector, with rival Anthropic and Elon Musk's SpaceX also filing for IPOs.
While OpenAI has not decided on the timing, the company may take a while to enter the market, citing "things we want to do that are likely easier as a private company."
CEO Sam Altman first raised the prospect of an IPO last fall, calling it the company's "most likely path" given its scale and the substantial capital required to further develop its AI technologies.
Analysts say the timing is precarious for OpenAI, which is facing mounting competition from Google and Anthropic and may be losing some of ChatGPT's early advantage among consumers and businesses.
