OpenAI has filed confidential paperwork with the SEC to open the door to going public, becoming the third member of an AI trio racing toward Wall Street alongside Anthropic, which disclosed its own IPO move on June 1, and SpaceX, which is already on its roadshow. The company, valued at $852B, was blunt about the timing, saying it announced the filing only because it expected the news to leak and hasn't decided when or whether to actually list, noting some plans are easier to pursue as a private company. The filing comes as analysts say OpenAI is ceding ChatGPT's early consumer and enterprise lead to Google and Anthropic while still needing enormous capital, and CFO Sarah Friar has said its valuation would already rank it among the 15 biggest companies in the S&P 500.
