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OpenAI, the creator of the popular AI model ChatGPT, has announced its plans to file for an initial public offering (IPO), joining the recent trend among artificial intelligence companies. The announcement, made on Monday (June 8), follows a similar move by its competitor Anthropic, which also filed for an IPO recently. OpenAI stated that while the exact timing of the IPO is undecided, they decided to make the announcement to preempt any leaks.
OpenAI's decision to go public comes amid a surge in interest in AI technologies and the stock market's appetite for such innovations. According to Reuters, OpenAI's IPO filing is confidential, indicating that the company is still in the early stages of the process. The company has not yet set the number of shares to be offered or the price range.
Anthropic, another major player in the AI field, had earlier filed confidentially for an IPO, as reported by Bloomberg. This move is part of a broader race among AI companies to secure a position in the public market, with both OpenAI and Anthropic aiming to capitalize on the growing demand for AI solutions.
The AI industry has seen rapid growth, with companies like Anthropic experiencing a significant increase in enterprise demand for their tools. As noted by Capital Markets Elite Group, Anthropic recently raised $65 billion at a $965 billion valuation, surpassing OpenAI's valuation for the first time. This competitive environment underscores the importance of timing in the IPO process, as being first to market can offer strategic advantages.
As OpenAI prepares for its public debut, the company is expected to select major financial institutions such as Goldman Sachs, JPMorgan Chase, and Morgan Stanley to lead the offering. The IPO is anticipated to take place in the fall, aligning with Anthropic's timeline.