The move follows a week after a similar bid by rival Anthropic and could be the start of a new phase of the artificial intelligence market, notes The National News.
What is known about the placement
OpenAI reported a confidential filing of registration documents with the U.S. Securities and Exchange Commission (SEC). The company has not yet disclosed the size of the offering, the anticipated share price, or the timing of going public.
The publication writes that according to Reuters IPO may take place as early as fall 2026, although the final decision has not yet been made.
The filing comes shortly after Anthropic, one of OpenAI’s main competitors in the generative artificial intelligence segment, began a similar procedure. Analysts see this process as the beginning of a struggle for public market capital between the largest AI model developers.
Why IPOs are becoming a new stage of competition
Over the past two years, the artificial intelligence market has become one of the most attractive areas for investors. OpenAI remains one of the industry leaders thanks to ChatGPT, which is used by hundreds of millions of users around the world. According to Reuters, the company recently raised new funding at a valuation of about $840 billion.
Against this backdrop, going public could provide OpenAI with an additional source of capital to build computing infrastructure, develop new models and expand commercial services.
Anthropic is pursuing similar goals, and is also looking to capitalize on the high investor interest in the AI sector.
Experts note that the market is simultaneously preparing several potentially the largest technology IPOs of the decade, including projects related to SpaceX and xAI. This may lead to competition for a limited amount of investment capital.
What this means for the market
OpenAI going public will be an important test for assessing the sustainability of business models of generative artificial intelligence companies. Investors will have the opportunity to assess the financial performance of an industry that has so far been largely developed through private equity and venture capital investments.
In addition, the IPO of the largest AI developers may accelerate the transformation of the technology market, where competition is gradually shifting from the struggle for the quality of models to the struggle for access to capital and computing resources.
