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OpenAI, the creator of ChatGPT, has taken a significant step toward becoming a publicly traded company by confidentially filing for an initial public offering (IPO) in the United States. The artificial intelligence giant is reportedly aiming for a valuation of up to $1 trillion, with a potential listing as early as September.

However, OpenAI has cautioned that the timeline for the IPO remains uncertain. "It may be a while because there are things we want to do that are likely easier as a private company," the company stated, indicating that strategic considerations might influence the timing of the public offering.

This confidential filing places OpenAI in a race with other AI firms seeking to tap into public markets. Anthropic, known for its Claude models, also filed confidentially on June 1, following a substantial funding round. Elon Musk's SpaceX was an earlier filer. Together, these potential listings are poised to be a major indicator of investor interest in high-growth technology stocks.

OpenAI has demonstrated rapid financial growth, reporting $2 billion in monthly revenue in March, a pace significantly faster than early-stage Alphabet and Meta. The company also boasts over 900 million weekly active users of ChatGPT and more than 50 million paying subscribers. Despite this impressive revenue, OpenAI does not anticipate profitability until 2030. A recent legal victory against Elon Musk, who alleged the company strayed from its nonprofit mission, has also removed a potential obstacle for the IPO.

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It may be a while because there are things we want to do that are likely easier as a private company.