The Financial Post reports in its Wednesday, June 10, edition that OpenAI became the third major artificial intelligence developer to confidentially file for a public listing Monday, joining rivals in an IPO pipeline now worth $3.6 trillion (all figures U.S.).
A Bloomberg dispatch to the Post reports that SpaceX 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. OpenAI was worth $852-billion based on its most recent funding round in March.
OpenAI submitted paperwork for an initial public offering with the U.S. Securities and Exchange Commission. OpenAI is working with Goldman Sachs and Morgan Stanley on a potential listing as soon as the fall.
Deliberations are ongoing and details of the IPO plan could change. "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," OpenAI said. "But it's a complicated set of tradeoffs and this gives us the option to go public sooner if that ends up being best."
OpenAI 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.
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