\n\tChatGPT creator OpenAI became the third major artificial intelligence developer to confidentially file for a public listing Monday, joining rivals in an IPO pipeline now worth some $3.6 trillion.
\n<\/p>\n
\n\tSpaceX, which is officially known as Space Exploration Technologies Corp., is preparing for an IPO that would value the company at about $1.8 trillion. Anthropic raised funds at a $965 billion valuation last month. And OpenAI was worth $852 billion based on its most recent funding round in March.
\n<\/p>\n
\n\tThe Sam Altman-led firm submitted paperwork for an initial public offering with the US Securities and Exchange Commission, the company said Monday. OpenAI is working with Goldman Sachs Group Inc. and Morgan Stanley on a potential listing as soon as the fall, people familiar with the matter have said. <\/p>\n
\n\tDeliberations are ongoing and details of the IPO plan could change. \u201cWe 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,\u201d OpenAI said. \u201cBut it\u2019s a complicated set of tradeoffs and this gives us the option to go public sooner if that ends up being best.\u201d<\/p>\n
\n\tOpenAI is also planning to launch a tender sale of its shares to provide liquidity to employees in the coming weeks, before the company goes public, according to a person familiar with the matter. A spokesperson declined to comment.<\/p>\n
\n\tFounded more than a decade ago, OpenAI kicked off the generative AI boom with the release of ChatGPT in late 2022. Though the company and its flagship chatbot remain synonymous with AI for many people, OpenAI also faces a number of challenges, including heightened competition from Anthropic PBC and Alphabet Inc.\u2019s Google.<\/p>\n
\n\tOpenAI reportedly missed certain internal revenue and user growth targets. Several key executives have departed or stepped back from their roles. And the company has been working to streamline its sprawling product lineup.<\/p>\n
\n\tAnthropic, the startup behind the chatbot Claude, said last week that it had filed confidentially for an IPO of its own. The company also leaped to a $965 billion valuation in its latest private funding round \u2014 above OpenAI\u2019s for the first time \u2014 as its revenue surged.<\/p>\n
\n\tA public debut in 2026 would also pit Altman squarely against Elon Musk on a different plane than the failed lawsuit against OpenAI and its CEO. SpaceX, Musk\u2019s rocket, satellite and AI firm, is targeting an IPO at a valuation of roughly $1.8 trillion on Thursday, which would immediately make it one of the world\u2019s most valuable public companies.<\/p>\n
\n\tOpenAI has already dwarfed even SpaceX\u2019s IPO in a single funding round. The company completed a deal to raise $122 billion from investors at an $852 billion valuation.<\/p>\n
\n\tAI companies are racing to raise tens of billions of dollars to buy chips and data centers and build more advanced AI systems. In February, OpenAI told investors it was planning to spend about $600 billion on AI infrastructure by 2030.<\/p>\n
\n\tThis article was provided by Bloomberg News.<\/p>\n
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