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AI Giant OpenAI Eyes Trillion-Dollar IPO
9 Jun
Summary
- OpenAI confidentially filed for a U.S. IPO on Monday.
- The AI giant aims for a valuation of up to $1 trillion.
- OpenAI reported $2 billion in monthly revenue in March.
OpenAI, the company behind ChatGPT, has confidentially filed for an initial public offering in the United States. This move signals the AI giant's intention to join the stock market, with speculation suggesting a target valuation of up to $1 trillion. The filing follows closely on the heels of competitor Anthropic also seeking a public market debut.
In March, OpenAI disclosed generating $2 billion in monthly revenue, indicating rapid growth. The company has secured substantial backing, including an $11 billion investment at an $840 billion valuation from prominent investors like SoftBank, Amazon, and Nvidia. This potential IPO is seen as a significant test of investor appetite for high-growth technology stocks.
OpenAI's unique structure, initially a nonprofit research organization that later established a for-profit arm, has faced scrutiny. A recent lawsuit filed by Elon Musk, accusing the company of deviating from its original mission, was dismissed in May, clearing a potential hurdle for public investors.
