OpenAI files for IPO, following Anthropic

OpenAI has filed a confidential Form S-1 with the SEC (Securities and Exchange Commission, the US agency that oversees financial markets and public companies), which is a preliminary step toward becoming a publicly traded company. This move follows Anthropic's similar filing in June, as both AI companies compete to go public. The confidential filing keeps sensitive details like executive pay and financial information private for now, rather than making them immediately public.