OpenAI to File Confidential IPO Prospectus Friday
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- OpenAI is preparing to confidentially file a draft IPO prospectus as early as Friday, according to an unnamed source.
- OpenAI is valued at over $850 billion by private investors and has raised more than $180 billion in funding.
- OpenAI is working with Goldman Sachs and Morgan Stanley on the filing, and CFO Sarah Friar called operating like a public company “good hygiene.”
- OpenAI continues to burn cash at a historic pace while its rivals, including Anthropic, face product setbacks.
Why it matters: Private investors gain liquidity at a valuation above $850bn, and OpenAI’s IPO provides a public benchmark for AI firms; Anthropic loses market momentum as the sector goes public.
