OpenAI files for US IPO, following Anthropic to public markets
ChatGPT's owner OpenAI has filed a confidential S-1 with the SEC, following rival Anthropic's similar move last month. The company has been valued at more than $300 billion in recent private rounds, bankers say.
OpenAI has filed a confidential S-1 with the US Securities and Exchange Commission, paving the way for what could be one of the largest technology IPOs ever. The company reached a valuation above $300 billion in its most recent private funding rounds, and bankers expect the offering to list on the New York Stock Exchange before year-end. The filing follows a similar step by rival Anthropic last month.
Two people familiar with the process told Investing.com that the deal size could reach $40-$50 billion. Microsoft remains the largest external partner, and its existing commercial agreement is expected to be renegotiated ahead of pricing. Goldman Sachs and Morgan Stanley have reportedly been mandated as joint book-running managers.
Global investor demand for AI exposure remains elevated, and analysts say the combination of OpenAI and SpaceX heading to public markets will define the second half of 2026 for Wall Street. The listing is also expected to shape disclosure standards for AI revenue, training costs and compute commitments. This is not investment advice.
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