OpenAI files confidential SEC paperwork for IPO, opening the door to a Wall Street debut

OpenAI filed confidential SEC paperwork for an IPO, joining Anthropic and SpaceX in pursuing Wall Street debuts. The company, now a public benefit corporation, faces competition from Anthropic and is navigating legal challenges from Elon Musk, a former co-founder. OpenAI has not finalized an IPO timeline but is preparing as a public company.