OpenAI has officially filed for an Initial Public Offering (IPO), following competitor Anthropic. The move signals a significant step towards making AI technology more accessible to investors and the general public.

The confidential submission with the US Securities and Exchange Commission means that key details, such as financials and potential risks, remain under wraps until further disclosure. As of their latest fundraising round, Anthropic is valued at an astounding $965 billion, surpassing OpenAI’s valuation of $852 billion.

The IPO has been in the works for months, but insiders reveal that certain executives, including CFO Sarah Friar, have expressed reservations due to missed revenue targets and user growth. CEO Sam Altman has remained more optimistic about the prospects, defending initial spending estimates of $1.4 trillion on compute infrastructure, though this figure was later adjusted.

The timing is interesting, coming weeks after the Musk v. Altman trial verdict and ahead of SpaceX’s planned IPO on June 12th. With SpaceX set to raise an astronomical $80 billion, OpenAI's debut will be closely watched, especially considering that SpaceX has acquired a key competitor in xAI and partnered with Anthropic.