As investor interest in artificial intelligence continues to grow, OpenAI has taken a major step toward entering the public markets. The company behind ChatGPT has confidentially filed for an initial public offering (IPO) in the United States, signaling a new chapter in its rapid expansion.
OpenAI has not disclosed the size, pricing, or timing of the offering. In a statement, the company said, “It may be a while because there are things we want to do that are likely easier as a private company.”
Reports suggest OpenAI could target a valuation of up to $1 trillion if it proceeds with a public listing, potentially as early as September. Such a debut would place the company among the most valuable technology firms to enter the stock market.
The filing comes as artificial intelligence continues to emerge as one of the most influential investment themes globally. Earlier this year, OpenAI announced plans to raise $110 billion at a valuation of $840 billion, backed by major investors including SoftBank, Amazon, and Nvidia.
The company also revealed that ChatGPT has surpassed 900 million weekly active users and more than 50 million consumer subscribers. In March, OpenAI reported generating $2 billion in monthly revenue, compared to approximately $1 billion in quarterly revenue at the end of 2024.
OpenAI’s growth has been supported by its long-standing partnership with Microsoft, which has invested $13 billion in the company since 2019. The AI firm recently revised that partnership, enabling it to establish additional collaborations with companies such as Amazon and Google.
Founded in 2015 as a nonprofit research organization, OpenAI created a for-profit arm in 2019 to support the rising costs of AI development. The company later announced plans in December 2024 to restructure as a public benefit corporation to attract greater investment while maintaining its broader mission.
The IPO filing follows the conclusion of a high-profile legal dispute involving early backer Elon Musk. In May, a US jury ruled in favor of OpenAI, removing a significant legal challenge that analysts believed could have impacted investor confidence ahead of a public listing.
The move positions OpenAI at the center of the AI industry’s next phase as public market interest in advanced technology companies continues to rise.
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