ChatGPT-maker OpenAI confidentially filed for an initial public offering on Monday, joining rival Anthropic in a push toward the stock market as investors seek exposure to the artificial intelligence boom.
OpenAI did not disclose the size or terms of the offering, but Reuters has reported that the AI giant is targeting a valuation of up to $1 trillion in a stock market debut that could come as early as September.
At that valuation, OpenAI would set the stage for a trio of trillion-dollar valuation companies debuting rapidly and is seen as the most consequential test of investor appetite for high-growth technology stocks in the recent decade.
Elon Musk’s SpaceX was the first off the block, filing for an IPO that would rank as the largest in history if completed, with the company pursuing a $75 billion offering at a $1.75 trillion valuation.
On prediction markets, where traders wager on the outcome of future events, most participants had expected OpenAI to file for an IPO before Anthropic.
The IPOs from Anthropic and OpenAI would crystallize a transformative period for the technology industry and global markets, with artificial intelligence rapidly emerging as the defining investment theme of the decade.
OpenAI said earlier this year that it was raising $110 billion at an $840 billion valuation from a roster of heavyweight backers including SoftBank, Amazon and Nvidia.
This is a developing story. Please check back for updates.
