OpenAI Files Confidential IPO Paperwork for Market Debut

OpenAI has confidentially filed IPO paperwork with regulators, moving closer to one of the most anticipated stock market debuts in recent history. The company, valued at $852 billion, has not set a timeline but says filing now gives it the option to go public sooner if needed. The listing will finally expose OpenAI's finances to public scrutiny amid ongoing concerns about profitability. The company has been expanding revenue streams through cheaper subscriptions, ads, and new products like its Codex coding bot and AI browser, while facing competition from rivals Anthropic and Google.