OpenAI files for IPO Following Anthropic as AI race shifts to Wall Street
- Marijan Hassan - Tech Journalist
- 6 hours ago
- 2 min read
OpenAI has officially filed confidential paperwork for a U.S. initial public offering (IPO), becoming the latest artificial intelligence giant to pursue a stock market debut. The move comes just days after rival Anthropic filed its own IPO application, setting the stage for one of the most significant public market battles in technology history.
The ChatGPT maker confirmed that it has confidentially submitted a draft registration statement to the U.S. Securities and Exchange Commission (SEC). By filing confidentially, OpenAI can begin the regulatory review process without immediately disclosing detailed financial information, executive compensation data, or the size of the offering.
The company did not provide a timeline for its market debut, but reports indicate that OpenAI could target a public listing as early as September if regulatory approvals proceed smoothly.
Following Anthropic into public markets
OpenAI's filing arrives just over a week after Anthropic submitted its own confidential IPO paperwork. The rapid succession of filings highlights how the AI industry's competition is expanding beyond model performance and into capital markets. Investors are increasingly seeking opportunities to gain exposure to companies at the forefront of the AI boom.
Anthropic recently raised a massive funding round that reportedly valued the company at approximately $965 billion, while OpenAI's latest financing round valued the firm at around $852 billion. Both companies are now among the most valuable private technology firms in the world.
A potential trillion-dollar valuation
Reuters reported that OpenAI could seek a valuation approaching $1 trillion when it eventually lists on public markets. If achieved, it would rank among the largest and most valuable technology IPOs ever completed.
Investor enthusiasm remains strong thanks to OpenAI's rapid growth. The company reportedly serves more than 900 million weekly active users and generates roughly $2 billion in monthly revenue through subscriptions, enterprise products, and developer services.
Legal and corporate hurdles cleared
The IPO filing follows a period of significant corporate restructuring. In late 2025, OpenAI completed its transition to a public benefit corporation structure, a move designed to make future fundraising and a potential IPO possible while maintaining elements of its original mission.
The company also recently prevailed in a closely watched legal dispute involving Elon Musk, removing what analysts viewed as one of the biggest obstacles to a public offering. The ruling provided greater clarity around OpenAI's corporate structure and future fundraising plans.
The AI IPO boom is here
OpenAI's filing comes during a remarkable period for capital markets. With Anthropic preparing its own offering and SpaceX recently completing a record-breaking IPO, investors are pouring unprecedented amounts of money into companies viewed as leaders in artificial intelligence and advanced technology.
Market analysts say the success or failure of these offerings could shape investor sentiment toward AI companies for years to come. A strong OpenAI debut would further validate the enormous valuations being assigned to leading AI firms, while any signs of weakness could raise questions about whether the sector's rapid rise has outpaced business fundamentals.
