OpenAI Files Confidential IPO Documents With SEC

OpenAI has confidentially submitted a Form S-1 with the US Securities and Exchange Commission, marking a key step toward a public offering. The move follows rival Anthropic, which filed the same preliminary IPO paperwork with the SEC on June 1st. The two AI companies have been engaged in an IPO race for nearly a year, with both now having completed this critical early milestone in the process of going public.