Dubai, UAE — OpenAI has confidentially filed for a U.S. initial public offering, the ChatGPT maker said on Monday, taking a major step toward a stock market debut that could become one of the largest technology listings on record.
The company did not disclose the size or timing of the offering, saying only that preparations remained at an early stage and that some objectives were easier to pursue as a privately held company, according to media reports.
The filing comes as investors pour money into artificial intelligence companies, driving valuations to unprecedented levels and reshaping capital markets. Reuters previously reported that OpenAI was targeting a valuation of up to $1 trillion in an IPO that could come as early as September.
If achieved, such a valuation would place OpenAI among the world’s most valuable companies and underscore investor appetite for AI-driven growth.
OpenAI said earlier this year it was raising $110 billion at an $840 billion valuation from investors including SoftBank, Amazon and Nvidia. The company also disclosed that ChatGPT had more than 900 million weekly active users and over 50 million paying consumer subscribers.
The IPO filing follows OpenAI’s efforts to overhaul its corporate structure and expand partnerships beyond Microsoft, one of its earliest backers. Analysts said a recent court victory in a lawsuit brought by Elon Musk removed a significant uncertainty that could have weighed on a public listing.
OpenAI has told investors it does not expect to become profitable before 2030, reflecting the substantial costs associated with developing advanced AI systems.
