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The company that helped kick off the AI boom is taking its first step toward Wall Street
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OpenAI has confidentially filed paperwork for an initial public offering, giving the company the option to go public after a review by federal regulators
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The company announced the filing Monday, but made clear a stock market debut is not imminent
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In a post on its website, OpenAI said it has not decided on timing and added that some of its plans may be easier to pursue as a private company
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The move is the latest milestone for CEO Sam Altman's company, which helped push artificial intelligence into the mainstream with the launch of ChatGPT in 2022
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It also comes just a week after rival Anthropic filed confidentially for its own IPO, setting up a race between two of the biggest names in AI
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And the competition doesn't stop there. Elon Musk's SpaceX is also preparing to go public with OpenAI, Anthropic and Google all listed as AI competitors in its filing
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OpenAI is now valued at more than $850 billion, making it one of the most valuable private companies in the world
