OpenAI, the maker of ChatGPT, has filed confidentially for an initial public offering. This move comes after its main rival, Anthropic, also filed to go public, intensifying the competition between the two AI firms. OpenAI's filing is seen as a significant signal that 2026 will be a blockbuster year for the public markets, with SpaceX also expected to make its debut at a $1.75 trillion valuation.
OpenAI's decision to go public is notable, given its recent struggles to meet targets for new users and revenue. The company has also faced concerns over its massive data center spending and burn rate. Despite these challenges, OpenAI has built a strong reputation and real scale, with around 900 million weekly active users.
The confidential IPO filing allows OpenAI to start its preparation for a public offering without publicly disclosing detailed financial information or business risks. The company's valuation and stock pricing will be closely watched, especially in comparison to Anthropic, which has provided a more positive picture of its financials.
