OpenAI Prepares Filing for Landmark IPO Valued Above $850 Billion

OpenAI is preparing to confidentially file for an initial public offering as early as Friday, in what could become one of the largest IPOs in global financial history, according to people familiar with the matter and reports from CNBC.

The artificial intelligence company, currently valued by investors at more than $850 billion, is working with major Wall Street banks including Goldman Sachs and Morgan Stanley as it moves toward a potential listing expected in the coming weeks or months.

In a statement, OpenAI said its approach reflects standard corporate governance practices, adding that it periodically evaluates strategic options while maintaining a focus on execution.

“As part of normal governance, we regularly assess a range of strategic options, and our focus remains on execution,” the company said.

The potential IPO would mark a historic milestone for the AI sector, coming just a few years after the launch of ChatGPT in 2022, which triggered a global surge in investment and development across generative artificial intelligence technologies.

OpenAI had previously signaled that a public offering could be considered as early as the fourth quarter, while Chief Financial Officer Sarah Friar has argued that operating “like a public company” is a disciplined approach for a firm of its scale and complexity.

The move comes amid intensifying competition in the AI industry, particularly as rivals seek similarly aggressive valuations and funding rounds.

Elon Musk’s ventures, including SpaceX and xAI, are reportedly preparing for a record-breaking public market debut that could value the combined entity at as much as $1.25 trillion.

The rivalry between Musk and OpenAI CEO Sam Altman has intensified in recent years, evolving from early collaboration into a high-profile legal and strategic conflict over the future direction of artificial intelligence development.

Despite its leadership role in the AI boom, OpenAI faces mounting pressure from investors to demonstrate sustainable profitability, as the company continues to burn significant amounts of capital to expand computing infrastructure and model development.

At the same time, competitors such as Anthropic are rapidly scaling operations, reportedly targeting valuations as high as $900 billion amid rising revenues that exceed $30 billion annually.