OpenAI said it confidentially filed for an initial public offering, positioning the ChatGPT developer to tap public markets amid a surge of investor interest in artificial intelligence. The move trails a similar filing by rival Anthropic and comes as SpaceX readies a blockbuster listing expected to top $1 trillion. OpenAI, which said it hasn’t set a timetable for its debut, was valued at about $852 billion in March after raising $122 billion to fund advanced models and the costly data-center capacity they require. The company has faced mounting competitive and operational pressures, including missed internal targets and rising rivalry from Anthropic and Google’s Gemini. It also recently navigated a high-profile legal dispute with Elon Musk. CFO Sarah Friar said OpenAI is considering reserving a portion of shares for retail investors to bolster trust and broaden participation in the offering.
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