In short
- OpenAI said it recently filed a confidential S-1 registration statement for its potential IPO.
- The company has not decided when or if it will move forward with a public offering.
- The filing follows months of speculation that OpenAI is planning to enter the public markets.
ChatGPT developer OpenAI confirmed on Monday that it has privately filed an S-1 filing for a public offering, marking the company’s initial public offering.
“We recently filed a confidential S-1,” the company said he wrote in the post on X. “We hope it goes through, so we’re just announcing it.”
S-1s are registration documents that companies file with the US Securities and Exchange Commission before selling shares to the public. Confidentiality allows regulators to begin reviewing the records before financial disclosures are made.
However, OpenAI said the filing should not be interpreted as a sign that an IPO is imminent.
“We haven’t decided on a time yet; it could be a while because there are things we want to do that would be easier as a private company,” the company said, adding that the filing provides “a way to go public soon if it goes well.”
The announcement comes months after OpenAI was planning a public listing. In May, The Wall Street Journal report that the company is considering a September IPO and has contacted Goldman Sachs and Morgan Stanley to help lead the offering. The report followed the dismissal of Elon Musk’s lawsuit against the company’s OpenAI design, removing a major legal risk.
OpenAI isn’t the only one heading to the public markets. Earlier this month, artificial intelligence startup Anthropic to be revealed A private filing for an IPO, while Elon Musk’s SpaceX uncovered its plans for an IPO in May.
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