OpenAI announces it has filed confidential paperwork to go public

OpenAI announced Monday it has filed confidential paperwork to take the company public, becoming the latest of three major Artificial Intelligence companies to do so.

The move comes as SpaceX and Anthropic are preparing for initial public offerings after they filed paperwork with the Securities and Exchange Commission to take their companies public in recent months. 

OpenAI, which created ChatGPT, said in a post on X that it “recently submitted” the filing, but did not give specific details on the exact day it was filed or when the company plans to go public.

“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,” the company wrote on X. “But it’s a complicated set of tradeoffs and this gives us the option to go public sooner if that ends up being best.”

The company, which was last valued at $852 billion after it's latest funding round raised $122 billion in committed capital, indicated that it was trying to get ahead of any potential leaks on the plans by confirming its confidential S-1 filing. 

The move comes after SpaceX CEO Elon Musk sued the artificial intelligence giant over its plans to go public and turn the company into a for-profit entity. Musk co-founded the company and claimed it violated its contract by turning it into a for-profit company.

Misty Severi is a news reporter for Just The News. You can follow her on X for more coverage.