ChatGPT- maker OpenAI confidentially filed for a US initial public offering, joining Anthropic as AI giants seek to capture the investor interest and race
to publicly list their firms. OpenAI confirmed the submission of the paperwork in a statement. The company decided to share the news proactively due to expectations of public exposure regarding the regulatory filings. "We recently submitted a confidential S-1," OpenAI said in an official statement. "We expect it to leak so we're just announcing it." The ChatGPT maker indicated that the exact timeline for transitioning to a listed entity remains open. Internal business objectives continue to influence the company's immediate structural decisions, "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," OpenAI said and stated "it's a complicated set of tradeoffs and this gives us the option to go public sooner if that ends up being best." This significant move comes after a similar regulatory move by Anthropic. Anthropic had made their official announcement earlier this month, noting that the paperwork provides flexibility for a future listing. The competitor recently achieved a valuation of nearly one trillion dollars, and analysts believe that ChatGPT-maker OpenAI's IPO could be the largest in history with valuations touching that 1 trillion dollar mark as well. The revenue growth which is around 2 billion dollars monthly and over 900 million weekly users is already attracting investors and making it one of the fastest-growing firms ever. However, as per some initial reports profitability still remains a concern for OpenAI and analysts suggest that it is when these major AI firms publicly list that when the true test for AI valuations will take place. It will show all the true picture of whether investors are willing to support trillion-dollar AI companies, are they prioritising revenue, popularity and growth over near-term profits or not.
