OpenAI Secretly Files for IPO Alongside Anthropic and SpaceX in Tech Market Rush

Key Takeaways

• OpenAI has submitted confidential documents to the SEC for an initial public offering, following similar moves by competitors Anthropic and SpaceX
• The AI giant seeks a market valuation reaching up to $1 trillion, with potential market entry as soon as September
• Despite achieving $2 billion in monthly revenue, the company projects profitability won’t arrive until 2030
• Elon Musk’s legal challenge was defeated in court this May, eliminating a significant obstacle to going public
• The ChatGPT platform now serves over 900 million weekly active users alongside more than 50 million paid subscribers

The artificial intelligence leader OpenAI has submitted confidential documentation to the United States Securities and Exchange Commission for an initial public offering. The announcement came via X on Monday, though the company emphasized that no final decision on timing has been made.

Major Tech Players Rush Toward Wall Street

OpenAI enters a crowded field of technology heavyweights preparing for public debuts. Competitor Anthropic submitted its own confidential IPO filing to the SEC on June 1, shortly after securing $65 billion in financing that established a $965 billion valuation.

Meanwhile, SpaceX—the parent company of AI chatbot developer xAI—is also advancing its public offering plans this week. If successful, the offering would represent the largest in market history, targeting a $1.75 trillion valuation.

According to Reuters sources, OpenAI aims for a valuation ceiling of $1 trillion. Should all three enterprises complete their public listings near these levels, it would represent one of the most significant evaluations of technology investor confidence in ten years.

Earlier this year, OpenAI secured $110 billion in funding at an $840 billion valuation. Notable investors include SoftBank, Amazon, and Nvidia.

Strong Revenue Growth Despite Future Losses

OpenAI disclosed $2 billion in monthly revenue as of March, expanding approximately four times faster than pioneering companies from the internet and mobile eras. This represents a substantial increase from roughly $1 billion in quarterly revenue recorded at 2024’s conclusion.

However, despite this impressive expansion, the company has informed investors that achieving profitability remains a 2030 target.

ChatGPT’s user base has swelled to more than 900 million weekly active users, complemented by over 50 million paying subscribers.

Court Victory Removes Legal Barrier

OpenAI originated in 2015 as a nonprofit organization. The company subsequently established a for-profit division to support the substantial costs associated with AI development.

In December 2024, management announced intentions to reorganize as a public benefit corporation. This strategic pivot prompted legal action from early supporter Elon Musk, who alleged that leadership had abandoned the organization’s founding principles.

A United States jury delivered a verdict against Musk this May. Market analysts indicated the decision eliminated a major legal impediment to the planned public offering.

Employment Impact and Market Activity

The artificial intelligence revolution has created significant workforce disruptions. Approximately 117,000 technology sector employees have lost their positions this year alone, with corporations attributing reductions to AI-enhanced productivity capabilities.

Cryptocurrency firms have eliminated over 5,000 positions in 2026. Block announced 4,000 staff reductions in February, similarly citing artificial intelligence efficiency improvements.

Global initial public offerings have generated $87.5 billion through late May, marking the strongest performance since 2021.

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