OpenAI, the developer of the ChatGPT chatbot, has confidentially filed for an initial public offering. The company announced the move on Tuesday, June 9, without disclosing details of the planned IPO.
As Reuters writes, OpenAI did not specify the price at which it plans to offer shares and did not disclose its expected valuation ahead of going public.
The timing of the IPO has also not yet been announced. “This may take some time because there are things we want to do and that are probably easier to do as a private company,” OpenAI said in a statement.
According to Reuters, the company is internally targeting a valuation of $1 trillion, while the offering itself could take place in September.
OpenAI announced its plans to go public several days after Anthropic—one of its main rivals and the developer of the Claude artificial-intelligence model—said it was preparing an IPO.
SpaceX, Elon Musk’s company, which is described as another major player in artificial intelligence, is also expected to hold an IPO in late June.