Sarah Friar

OpenAI filed confidential SEC paperwork for a potential IPO, joining Anthropic and SpaceX in pursuing Wall Street debuts. The company reorganized as a public benefit corporation and recently won a legal battle against Elon Musk, but faces competition from Google and Anthropic while operating at a financial loss.

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.

OpenAI has filed confidential SEC paperwork for an IPO, positioning itself as the third major AI company after Anthropic and SpaceX to pursue a Wall Street debut. The company, now valued at $852 billion, reorganized into a public benefit corporation last year while remaining under nonprofit control.

OpenAI filed confidential SEC paperwork for a potential IPO, positioning itself as part of a trio of AI companies aiming for Wall Street debuts. The company, valued at $852 billion, reorganized into a public benefit corporation and has not finalized timing for the public offering.

OpenAI is shifting its focus to business users and developing a new AI model for professional work amid competition with Anthropic. The company plans to abandon consumer initiatives like the Sora video generator to prioritize revenue from corporate clients, with business revenue expected to reach 50% of sales by year-end.