“We expected it to leak so we’re announcing it.”
Just a week after Anthropic announced its plans to go public, OpenAI has followed suit. The company said Monday that it has filed a confidential Form S-1 with the Securities and Exchange Commission. No date or offering price has yet been set by OpenAI for an initial public offering.
The company wrote on its website, “We recently filed a confidential S-1. We expect it to leak so we’re announcing it. We haven’t decided on timing yet; it may take some time because there are things we want to do that are easier as a private company. But it’s a complex set of tradeoffs and it gives us the option of going public sooner if that’s best.”
This will provide an opportunity for journalists and financial analysts to look at OpenAI’s books as the public offering date approaches. Recent reporting from Information Suggests the company recorded $25 billion in annual revenue by the end of February. However, the company is also projected to spend $115 billion by 2029 to pay for computing costs and other expenses, raising questions about whether the company has a path toward profitability.
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