OpenAI expects to go public ‘within the next year

OpenAI CEO Sam Altman told staff in a message ​earlier this week that he expected the AI startup to ‌go public “within the next year.”

The ChatGPT maker said on Monday it had confidentially filed for a US initial public offering recently, joining rival Anthropic in ​a push toward a stock market listing as it looks to ​tap into insatiable investor demand for AI shares.

It did not, ⁠however, disclose the size or terms of the offering, and said ​a timeline has not yet been determined. “It may be a while because ​there are things we want to do that are likely easier as a private company,” OpenAI said.

Altman said that “many things could cause it to be sooner ​or later in that range, but filing now gives us optionality ​if we want to go sooner,” according to The Information report.

The OpenAI CEO also said ‌in ⁠his message that if advances in the company’s technology enabled its AI to create new AI on its own – known as recursive self-improvement – it could weaken the push for a quick IPO.

“The faster the potential RSI ​takeoff looks like it ​could be, ⁠the more it could be advantageous to delay an IPO,” according to the report.
He also told staff that ​OpenAI is preparing to launch a tender offer “very soon” ​at the ⁠current share price of $687.69, The Information reported.

Reuters ⁠has ​earlier reported that the AI giant is ​targeting a valuation of up to $1 trillion in a stock market debut that could come as early ​as September. Reuters