OpenAI, the maker of ChatGPT, has confidentially filed for an initial public offering in the United States as it seeks to secure fresh capital to expand its artificial intelligence operations, the company said Monday.
Led by Chief Executive Officer Sam Altman, the firm submitted paperwork to the US Securities and Exchange Commission and is working with Goldman Sachs Group Inc. and Morgan Stanley on a potential listing as early as the fall, according to people familiar with the matter.
The company emphasized that no final decision on timing has been made. “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, noting the tradeoffs in going public.
Founded over a decade ago, OpenAI sparked the generative AI boom with the launch of ChatGPT in late 2022. While still a dominant name in artificial intelligence, the company faces rising competition from Anthropic PBC and Alphabet Inc.’s Google, along with internal challenges including missed growth targets and recent executive departures.
A 2026 debut could place Altman in direct competition with Elon Musk, whose SpaceX is targeting an IPO that could raise more than $75 billion at a $2 trillion valuation. OpenAI has already raised $122 billion at an $852 billion valuation and plans to invest roughly $600 billion in AI infrastructure by 2030 as the race for computing power intensifies.
