TECH NEWS

OpenAI files for IPO, following Anthropic

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Hayden Field is The Verge’s senior AI reporter. An AI beat reporter for more than five years, her work has also appeared in CNBC, MIT Technology Review, Wired UK, and other outlets.

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 valuation of $965 billion that surpassed OpenAI’s latest $852 billion post-money valuation.

OpenAI has been...

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