OpenAI files for IPO, after Anthropic

OpenAI on Monday checked off an initial step in the IPO race it has been battling with rival Anthropic for the better part of a year: The company announced that it had confidentially filed a Form S-1 with the U.S. Securities and Exchange Commission, following… Anthropic decides to do the same On the first of June.

A confidential filing means that some details typically available through the form — such as executive compensation figures, potential risks to the company’s business, and more financial data — are not yet public.

As of Anthropic’s recent fundraiser, it is He is called The world’s most valuable startup, with a post-cash valuation of US$965 billion, surpassing OpenAI’s latest valuation of US$852 billion.

OpenAI has been preparing to go public for months, however Reports It emerged that some executives, namely CFO Sarah Friar, were not as enthusiastic about a quick IPO as CEO Sam Altman, due to missing revenue targets and user growth numbers, and concerns that OpenAI would not be able to pay for all of its computing spending commitments. The company had initially said it planned to spend $1.4 trillion on computing infrastructure, which is what Altman appeared to do. Become defensive about him When he was publicly questioned about it. In February, however, OpenAI amendment This figure, and it told investors that it plans to spend $600 billion on computing by 2030.

The news also comes weeks after a jury reached a high-profile verdict Musk v. Altman trialand ahead of Musk’s SpaceX IPO on June 12. SpaceX’s public debut is currently scheduled to raise $80 billion and become the largest IPO ever. OpenAI’s debut will be publicly compared to SpaceX’s, especially since SpaceX acquired OpenAI competitor xAI and It signed a deal with Anthropic, whereby Anthropic pays $15 billion a year to use SpaceX’s data centers.