OpenAI has begun the process for an initial public offering (IPO) on the U.S. stock market. The competition in the generative artificial intelligence (AI) sector is evolving beyond model performance to a fierce funding race on Wall Street.
On June 8, OpenAI announced that it had submitted a confidential S-1 filing to the U.S. Securities and Exchange Commission (SEC) for its IPO. The company stated, "We have not yet determined the timing of the offering," but emphasized that the filing is a step to secure options for a swift launch in the future.
According to Bloomberg, OpenAI has selected Goldman Sachs and Morgan Stanley as lead underwriters and is considering an IPO as early as this fall. However, the company also noted that remaining private has its advantages and is not rushing the process. Reports indicate that OpenAI is also planning a tender offer to provide liquidity for employees and existing investors before the IPO.
This move towards an IPO is seen as part of a broader funding competition within the AI industry. Recently, Anthropic also filed for a confidential IPO and was valued at approximately $965 billion during its latest fundraising round.
Additionally, Elon Musk's space company, SpaceX, is pursuing an IPO with a target valuation of about $1.8 trillion. With OpenAI, Anthropic, and SpaceX all being discussed in the context of valuations around $1 trillion, the competition among major tech firms for IPOs is intensifying.
Market analysts point to the significant infrastructure investment burden as a key reason for the surge in IPOs among AI companies. Developing cutting-edge AI models requires hundreds of thousands of GPUs and the establishment of massive data centers, making ongoing funding essential. OpenAI previously disclosed plans to invest approximately $600 billion in AI infrastructure by 2030.
Sam Altman, CEO of OpenAI, stated, "The future of good AI should not be controlled by a few institutions but should empower many people. AI should serve as a foundation for greater economic opportunities."
* This article has been translated by AI.
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