OpenAI files for IPO, following Anthropic

OpenAI on Monday took the first step in the IPO race that it and its partner Anthropic have been competing for the better part of a year: The company announced that it has filed a confidential Form S-1 with the US Securities and Exchange Commission, following a confidential process. Anthropic thought to do the same on 1 June.

Confidentiality means that some of the information obtained through the form – such as compensation figures, potential risks to the company’s business, and capital expenditures – is not disclosed.

As for Anthropic’s latest investment, it is to be invited the most valuable startup in the world, with a valuation of $965 billion that surpassed OpenAI’s recent valuation of $852 billion.

OpenAI has been preparing to go public for months, but reports have pointed out that some executives, namely CFO Sarah Friar, have not been as gung-ho about the IPO as fast as CEO Sam Altman, because of the missed targets and the number of users growing, and the concern that OpenAI will not be able to cover all the costs they use. The company initially said it planned to spend $1.4 trillion on computer products, which Altman saw to be the protection of when asked publicly about it. In February, however, OpenAI to be changed that figure, telling investors it plans to spend $600 billion on computing by 2030.

The case comes weeks after the jury reached a verdict Musk v. Altman a caseand ahead of Musk-owned SpaceX’s planned June 12 IPO. Public startup SpaceX is currently set to raise $80 billion and become the largest IPO of all time. The launch of OpenAI will be in the open compared to SpaceX, especially since SpaceX acquired OpenAI’s competitor xAI. and signed a deal with Anthropic, with Anthropic paying $15 billion a year to use SpaceX’s data center.