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OpenAI took its first step toward going public on Monday, filing a confidential IPO registration just one week after its main rival, Anthropic, made the same move.
Both artificial intelligence giants are now racing toward Wall Street to raise the billions of dollars needed to fund their massive computing infrastructure.
Chief Executive Sam Altman stated that OpenAI has not yet finalised the timing for its stock market debut.
The company noted that remaining private makes certain goals easier to achieve, but the filing gives it the flexibility to launch an IPO whenever it chooses.
The filings come as both generative AI companies face skyrocketing costs for data centres and microchips.
While both firms have secured historic amounts of private investment, their massive spending has forced them to turn to public markets for additional capital.
