OpenAI files confidential IPO documents, intensifying race with rival Anthropic

Artificial intelligence leader OpenAI has taken a significant step toward becoming a public company, confidentially submitting preliminary IPO documents to the U.S. Securities and Exchange Commission (SEC). This move signals the company's ambition for a massive public offering, potentially valuing it at over $1 trillion, and intensifies a burgeoning competition in the AI sector.

The confidential filing, reported on May 8, indicates that OpenAI is preparing for a large-scale market debut. However, the company has not yet set a specific listing date, noting that "there are still things that can be done more easily while remaining a private company, so it may take some time until the listing." This suggests a strategic approach to its public market entry.

OpenAI's IPO plans place it in a race with rival Anthropic, the developer of the AI model Claude. Anthropic also aims for a public listing this fall and recently submitted a draft application. Industry observers believe that whichever company successfully lists first could gain an advantage in capturing the substantial investment flowing into the AI industry. Concerns have reportedly surfaced within OpenAI about potentially ceding market leadership to Anthropic, which recently achieved a valuation of approximately $900 billion, surpassing OpenAI's previous valuation.

While OpenAI maintains its lead in the consumer chatbot market with 900 million global weekly active users, it faces strong competition from Anthropic in the business-to-business (B2B) sector. OpenAI recently secured $12.2 billion in funding at a $85.2 billion valuation in March, the largest in Silicon Valley history, and raised an additional $3 billion from individual investors. The company previously outlined plans to invest approximately $600 billion in AI infrastructure by 2030.

In parallel with its IPO preparations, OpenAI also announced enhancements to its ChatGPT service. The new features include an advanced 'memory function' that tailors responses based on user writing styles and project context, and a 'file library' for easily accessing previously uploaded or generated files. These features are currently available to Plus and Pro subscribers in the U.S. and will be rolled out to free users and other countries within weeks.