OpenAI has submitted a S-1 registration document to the US Securities and Exchange Commission, confirming plans to pursue a stock market listing at an unspecified future date.
The filing, made on 8 June, comes one week after rival AI firm Anthropic announced its own IPO intentions, and alongside SpaceX's planned Nasdaq debut targeting a valuation of $1.75 trillion.
The company's most recent private valuation stood at $852 billion, against Anthropic's $965 billion. Both firms are competing for users, enterprise customers, and investors, with analysts noting that the public market performance of one is likely to influence sentiment toward the other.
OpenAI's compute costs are estimated to exceed $100 billion annually, significantly outpacing current revenues. Anthropic, by contrast, has told investors it expects to turn a profit in the first half of this year, pointing to strong growth in sales of its Claude products and services.
A standard securities law disclaimer accompanying OpenAI's announcement noted that the filing does not constitute an offer to sell shares, and that any future sale would be conducted in accordance with applicable registration requirements.
