OpenAI files for IPO, following Anthropic

OpenAI confidentially submitted a Form S-1 to the US Securities and Exchange Commission, following Anthropic’s June 1 confidential filing in the same IPO race. The filing keeps details like executive pay, risk factors, and financials private for now, signaling that two of the most valuable AI startups are both moving toward public markets.

OpenAI on Monday checked off a preliminary step in the IPO race that it and rival Anthropic have been competing in for the better part of a year: The company announced it has confidentially submitted a Form S-1 with the US Securities and Exchange Commission, following Anthropic's decision to do the same on June 1st. The confidential filing means that certain details normally available through the form - such as executive compensation figures, potential risks to a company's business, and more financials - aren't yet public. As of Anthropic's most recent fundraise, it's being called the world's most valuable startup, with a post-money valu … Read the full story at The Verge.